EX-Bank PHB MD Francis Atuche convicted
On Wednesday, a Lagos State High Court in Ikeja convicted Francis Atuche, the former Managing Director of defunct Firm PHB, and Ugo Anyanwu, the bank’s former Chief Financial Officer, of stealing N25.7 billion from the bank.
The former bank executives were found guilty on 21 of the 27 counts of conspiracy to commit a felony and theft presented by the Economic and Financial Crimes Commission against them (EFCC).
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The EFCC successfully established its case against the prisoners beyond reasonable doubt, according to the Presiding Judge, Justice Lateefat Okunnu, in a 12-hour-long ruling.
The judge also ruled that the crimes against which the convicts were charged were not merely professional negligence, as they argued, but were criminal in nature.
# EX-Bank PHB MD Francis Atuche
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