Ex-bankers bag 10 years imprisonment for stealing N26 billion

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For defrauding defunct Bank PHB (now Keystone Bank) of approximately N26billion, an Ikeja High Court has sentenced Francis Atuche, a former Managing Director of the financial institution to six years’ imprisonment.

Mr Atuche, his wife and Ugo Anyanwu, a former Chief Financial Officer of the bank were accused of stealing about N25.7 billion by the Economic and Financial Crimes Commission (EFCC).

In a 10-hour judgment on Wednesday, Justice Lateefa Okunnu discharged Atuche’s wife who was also facing trial and also sentenced Mr Anyanwu to four years’ imprisonment.

The judge held that the EFCC proved beyond reasonable doubt that the convicts committed fraud.

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