There was a tense atmosphere in an Ikeja High Court on Wednesday night as Francis Atuche, a former Managing Director (MD) of Bank PHB, begged Justice Lateefa Okunnu not to send him to prison following his conviction for defrauding the bank of N25.7 billion.
Atuche and Ugo Anyanwu, a former Chief Financial Officer (CFO) of the bank, were both found guilty of 22 of the 27 counts of conspiracy and stealing charge proffered against them by the Economic and Financial Crimes Commission (EFCC) in 2011.
Atuche’s wife, Elizabeth, who faced trial alongside the duo, was found not guilty of the two counts of conspiracy and stealing brought against her. Atuche and Anyanwu were sentenced at nighttime following a very length judgment that began at 9:12 a.m. and ended at 9:21 p.m.
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