Ex Bank MD Atuche, Accomplice Bag Six Years Jail Term For Stealing
Francis Atuche, the former Managing Director of the defunct Bank PHB, has been sentenced to six years in prison.
He was handed the jail term by Justice Kateefa Okunnu of the Ikeja Division of the Lagos State on Wednesday, June 16, 2021.
The judge ruled he and his accomplice truly stole the sum of N27 billion belonging the defunct financial institution.
Also handed six years jail term by the trial judge was Ugo Anyanwu, the bank’s former chief financial officer.
Mr Atuche alongside his wife, Elizabeth and Mr Anyanwu were arraigned before Mrs Okunnu in 2011.
Interestingly, Elizabeth Atuche, the wife of the embattled former bank chief, was, however, discharged and acquitted.
They reportedly accused of stealing and conspiring to steal N25.7 billion belonging to the bank which they pleaded not guilty.
