An Ikeja High Court has sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank), to six years’ imprisonment for defrauding the bank of N25.7 billion.
In a 12-hour judgment, Justice Lateefa Okunnu also sentenced Ugo Anyanwu, a former Chief Financial Officer (CFO) of the bank to four years’ imprisonment.
The judge held that the Economic and Financial Crimes Commission (EFCC) proved beyond reasonable doubt that the convicts, who had been standing trial for the past 10 years, committed the fraud.
Justice Okunnu, however, acquitted Atuche’s wife Elizabeth, who was facing trial counts of conspiracy and stealing alongside the duo.
