COURT SENTENCES FORMER BANK PHB BOSS, FRANCIS ATUCHE TO OVER 6 YEARS IN PRISON
A Lagos High Court sitting in the Ikeja area has sentenced former managing director of defunct Bank PHB, Francis Atuche to over 6 years in prison.
Justice Lateefat Okunnu convicted Atuche alongside a former Chief Financial Officer of the bank, Ugo Anyanwu after a trial that lasted over 12 years.
They were convicted on at least 6 of a 27-count amended charge of conspiracy to commit a felony and stealing brought against them by the Economic and Financial Crimes Commission (EFCC).
While Atuche who was found guilty on counts 1, 3, 5, 7, 9, and 23 of the charge would serve a 6-year term for each count, Anyanwu will serve a 4-year jail term for counts 2, 4, 6, 8, 10, 11, 22 and 24 of the amended charge.
READ ALSO: NIGERIAN SOLDIERS CAPTURE NOTORIOUS ISWAP INFORMANT GONI FANDAM
In delivering her sentence, Justice Okunnu held that the EFCC successfully proved its case against the convicts beyond a reasonable doubt.
The judge rejected claims by the defendants suggesting that they were merely professionally negligent.
She specifically held that Atuche and Anyanwu abused their powers, ignored established rules and regulations thereby putting the bank and depositors’ funds in danger.
The court also came to the conclusion that the convicts corruptly took advantage of their positions to confer on themselves undue financial benefits without regard to the health of the bank.
For the latest Updates from Eons Intelligence, Follow us on twitter @eonsintelligenc and on Facebook, Eons Intelligence. You can also connect with us on our LinkedIn Page, Eons Intelligence
Comments