Lagos State High Court on Wednesday convicted the former Managing Director of the defunct Bank PHB Plc, Mr. Francis Atuche, and the bank’s former Chief Financial Officer (CFO), Mr. Ugo Anyanwu.
The judge, who found the bankers guilty of stealing and conspiracy to steal, however, discharged and acquitted Atuche’s wife, Elizabeth.
The former bank chief, his wife, and Anyanwu were accused of stealing N25.7 billion belonging to the bank.
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They were arraigned in 2011 before Justice Lateefat Okunnu of the Ikeja Division of the Lagos State High Court.
Atuche is also standing trial over N125 billion alleged fraud before the Lagos Division of the Federal High Court.
He was arraigned in 2014, alongside Charles Ojo, a former Managing Director of Spring Bank Plc, on an amended 45-count before Justice Saliu Seidu, before the judge was transferred out of the Lagos division.
The case was subsequently transferred to Justice Ayokunle Faji and the defendants were re-arraigned in 2017.
