Former Bank PHB MD, Francis Atuche, bags 6 years jail term for fraud

Francis Atuche

A former Bank PHB (now known as Keystone Bank) Managing Director, Francis Atuche, has bagged six years’ imprisonment for defrauding the bank of N25.7 billion.

He was sentenced by an Ikeja High Court.

In a 10-hour judgment, Justice Latifat Okunnu also sentenced Ugo Anyanwu, a former Chief Financial Officer of the bank to four-year imprisonment.

The judge held that the Economic and Financial Crimes Commission proved beyond reasonable doubt that the convicts committed fraud.

Okunnu, however, discharged Atuche’s wife Elizabeth, who was facing trial alongside the duo.


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