Atuche, Ex-Bank MD Convicted Of Fraud

An Ikeja Division of the Lagos State High Court on Wednesday convicted the former managing director of the now defunct Bank PHB Plc, Francis Atuche, and the bank’s former chief financial officer, Ugo Anyanwu of stealing and conspiracy to steal.

Mr Atuche’s wife, Elizabeth who stood trial on similar charges was, however, discharged and acquitted.

 GreenWhiteGreen GWG reports that the former bank chief, his wife, and Mr Anyanwu had been arraigned by the Economic and Financial Crimes Commission of stealing N25.7 billion belonging to the bank.

They were arraigned in 2011 before Justice Lateefa Okunnu of the Ikeja Division of the Lagos State High Court.

Mr Atuche is also standing trial over N125 billion alleged fraud before the Lagos Division of the Federal High Court.

Details Later

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