The Court of Appeal in Lagos has affirmed the conviction of a former Managing Director of the defunct Bank PHB Plc, , for N25.7 billion fraud.
The high court had sentenced Messrs Atuche and Anyanwu to six years in prison. The convicts challenged their convictions and prayed to the appellate court to set aside the lower court’s decision. “The 1st defendant confirmed the bank’s ownership of the money when he said the bank in lending money makes a profit.that ‘The bank still has control over the money that’s left in its coffers, no matter who uses it’.
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