An High Court sitting in Lagos sentenced former Managing Director of the defunct Bank PHB Francis Atuche to six years imprisonment for N25.7 billion fraud.
His co-defendant, Ugo Anyanwu, was also sentenced to four years imprisonment.
The duo was convicted on 21 of 27-count charges against them.
Atuche and Anyanwu were sentenced to six and four years on each of the 21 charges. The sentences will run concurrently.
The Chief Justice, Lateefat Okunnu pointed out that the convicts must make restitution as contained in Count 4, noting that the amount stolen was not up to what was alleged in the charge.
The judge also discharged and acquitted Atuche’s wife of charges of conspiracy and stealing stating that the anti-graft agency, EFCC failed to link her to the crime.
