Former Bank PHB Boss, Francis Atuche Set Free By Lagos High Court
A Lagos High Court sitting in Ikeja today freed the former Managing Director of the defunct Bank PHB, Francis Atuche
who is standing trial for allegedly stealing N25.7 billion. Atuche and
his wife, Elizabeth, were standing trial over alleged theft of N25.7
billion belonging to the bank (now Keystone Bank). They were prosecuted
alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.
In September 2014, Atuche denied the theft charge preferred against
him by the Economic and Financial Crimes Commission (EFCC). The former
bank chief had said that he could not engage in theft as a member of
Catholic faith.
He also told the court how he grew a mortgage finance company, Pinnacle Investment Ltd and transformed it into Platinum Bank Plc back then. Atuche, his wife and Ugo Anyanwu were all however freed by a Lagos High Court today.
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