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Former Bank PHB boss jailed 6yrs for N25bn fraud

Former Bank PHB Plc Managing Director, Mr. Francis Atuche has been convicted by a Lagos High Court sitting in Ikeja for stealing N25 billion belonging to the bank.

He was convicted alongside the bank’s former chief financial officer, Ugo Anyanwu, after 12 years trial. His wife was however freed.

The former bank chief, his wife Elizabeth and Mr Anyanwu were accused by the Economic and Financial Crimes Commission, EFCC of stealing N25billion belonging to the bank.

In a judgment delivered this evening, the court found the bankers guilty of stealing and conspiracy to steal but discharged and acquitted Atuche’s wife.

Atuche was sentenced to six years in jail while Anyanwu bagged four years in jail at the Lagos maximum correctional centre.

Written by ExpressDay

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