Bank PHB Ex-Md Atuche Jailed Six Years For N25.7B Fraud

An Ikeja high court has sat in Lagos state sentenced a former managing director of the defunct bank PHB, now Keystone Bank, Francis Atuche to six years imprisonment for 25.7 billion naira fraud.
The Presiding Judge, Justice Lateefa Okunnu convicted Atuche alongside a former Chief Financial Officer of the Bank, Ugo Anyanwu on conspiracy to commit a felony and stealing brought against them by the Economic and Financial Crimes Commission (EFCC).

She however held that Atuche and Anyanwu abused their powers, ignored  established rules and regulations by corruptly taking advantage of  their positions to confer on themselves undue financial benefits  without regard to the health of the bank

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