N25.7bn Fraud: Appeal Court Affirms Conviction Of Ex-Bank PHB MD, Atuche

A three-man panel of the Court of Appeal, Lagos Division,  on Thursday, June 23, 2022,  upheld the conviction of a former Managing Director of the defunct Bank PHB Plc, Francis Atuche as well as the bank’s former Chief Financial Officer, Ugo Anyanwu.

Atuche and his co-convict, Anyanwu, had approached the appellate court to set aside their conviction by Justice Lateefa Okunnu of the Lagos State High Court sitting in Ikeja, Lagos on June 16, 2021, over an N25.7 billion fraud.