Francis Atuche
The Court of Appeal sitting in Lagos on Thursday affirmed the conviction of former Managing Director of defunct Bank PHB Plc, Francis Atuche, for N25.7bn fraud however decreased his sentence of 12 years to 6 years.
The courtroom docket additionally affirmed the conviction of Atuche’s co-convict Ugo Anyanwu, who become sentenced to ten years` imprisonment via way of means of the decrease courtroom docket for stealing and conspiracy to thieve.
Anyanwu`s prison time period become additionally decreased to 8 years.
Justice Lateefa Okunnu of the Lagos State High Court sitting at Ikeja had on June 16, 2021, sentenced Atuche, to twelve years` imprisonment for N25.7bn fraud withinside the bank.
While his former Chief Financial Officer, Ugo Anyanwu, become sentenced to ten years imprisonment for stealing and conspiracy to thieve and Atuche’s wife, Elizabeth, become discharged and acquitted.
But disenchanted with the judgement of the decrease courtroom docket, Atuche approached the courtroom docket of Appeal to mission the judgment.
