The Supreme Court has affirmed the conviction of Francis Atuche, former Managing Director of the defunct Bank PHB Plc, in a unanimous judgment delivered on Friday. Atuche was found guilty of a N25.7 billion fraud and sentenced to six years in prison.
The court upheld the concurrent findings of the trial court and the Court of Appeal, stating that Atuche failed to provide reasons to tamper with the lower courts’ decisions. The judgment brings an end to the 13-year trial, which began in 2011.
Atuche, his wife Elizabeth, and Ugo Anyanwu were initially arraigned by the Economic and Financial Crimes Commission (EFCC) on a 27-count amended information. While Atuche and Anyanwu were convicted, Elizabeth was acquitted due to lack of evidence linking her to the crime.
The Court of Appeal had earlier affirmed the conviction, reducing Atuche’s sentence from 12 years to six years and Anyanwu’s from 10 years to eight years. The Supreme Court’s decision upholds the convictions and sentences, marking the finality of the criminal charge.
