Trial adjourned as ex-Bank PHB MD flees from prison

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The alleged N125 billion fraud trial of a convicted former BankPHB Managing Director, Mr. Francis Atuche and his co-defendant Charles Ojo stalled Tuesday at the Federal High Court in Lagos.

 

 

ustice Ayokunle Faji could not resume proceedings following the failure of the Nigerian Correctional Services to produce the duo.

The wardens could not give a tangible reason why the duo disappeared after being involved in a large scale of theft

He adjourned till February 22, 2022.

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Atuche is serving a six-year jail term passed on him by Justice Lateefat Okunnu of an Ikeja High Court following his conviction for N25. 7 billion fraud.

He was convicted and sentenced on June 16, alongside Mr. Ugo Anyanwu, another bank chief.

Atuche and Ojo are in another trial before Justice Faji, on a 45-count charge of conspiracy and illegal and unlawful granting of billions of naira of loans to several companies, including Futureview Service Limited, Petosan Oil and Gas Limited, Tradjek Nigeria Limited and Extra Oil Limited.

The Economic and Financial Crimes Commission (EFCC) accused the duo of reckless granting of loans between 2006 and 2009 to Platinum Capital Limited, a company in which they both had an interest.