A former Managing Director of defunct Bank PHB plc, Mr. Francis Atuche, has been found guilty of stealing and conspiracy to steal by a Lagos High Court at Ikeja.
Atuche was found guilty alongside former Chief Financial Officer of the bank, Ugo Anyanwu.
But Atuche’s wife, Elizabeth who was tried alongside the duo, was acquitted and discharged.
They were prosecuted byb the Economic and Financial Crimes Commission over the allegation of stealing N25.7 billion belonging to the defunct bank.
Atuche is, however, still standing trial at a Federal High Court in Lagos over N125 billion alleged fraud.