Former Bank PHB MD, Atuche, Convicted Of N25.7Bn Theft

Former Bank PHB MD, Atuche, Convicted Of N25.7Bn Theft

A Lagos High Court sitting in Ikeja, has found former Managing Director of the defunct Bank PHB PLC, Mr. Francis Atuche, guilty of stealing and conspiracy to steal.

Convicted alongside him was former Chief Financial Officer, Ugo Anyanwu, however, Atuche’s wife, Elizabeth, was discharged and acquitted.

They were prosecuted by the Economic and Financial Crimes Commission over the theft of N25.7 billion belonging to the defunct bank that now bears “Keystone Bank.”

Atuche will still stand trial at a Federal High Court in Lagos over N125 billion alleged fraud.

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