Francis Atuche, ex-Bank PHB MD’s conviction affirmed by Supreme Court
By Emma Ogbuehi
Nigeria’s apex court has upheld the conviction of former Managing Director of the defunct Bank PHB Plc, Francis Atuche, after 13 years of trial.
In the unanimous judgment read by Justice Moore Adumein, on Friday, June 28, the Supreme Court held that the appellant, Francis Atuche, failed to dislodge the finding of the trial court and the Court of Appeal on his credibility.
The court in relying on its previous decisions to the effect that where the decision of a trial court on the demeanour of a party or witness is supported by the documentary evidence tendered, an appellate court has no business in tampering with the decision of the court.
In conclusion, the court held that the appellant had not given it any reason to tamper with the concurrent findings of the two lower courts.
Atuche, his wife, Elizabeth, and the bank’s former chief financial officer, Ugo Anyanwu, were in 2011 arraigned by the Economic and Financial Crimes Commission (EFCC) before Justice Okunnu of the High Court of Lagos State
They were prosecuted by EFCC prosecutor, Dr. Kemi Pinheiro (SAN), on a 27-count amended information for their involvement in a N25.7 billion fraud.
The Trial Court after taking evidence of parties in its judgment delivered for almost 12 hours convicted and sentenced Atuche and Anyanwu on June 16, 2021 while also discharging and acquitting his wife.
Justice Okunnu noted that both convicts defrauded the bank using well-recognised stockbrokers to transfer money under the guise of loans and shares.
“It was a well-planned, well-executed scheme but the bubble burst when the Central Bank of Nigeria intervened,” she had said.
The judge subsequently sentenced Atuche to 12 years and Anyanwu to 10 years imprisonment.
Justice Okunnu discharged and acquitted Atuche’s wife on the grounds that the prosecution failed to link her to the crime.
She held that suspicion, no matter how strong, cannot take the place of fact.
The judge held that it was not proven that she was aware of the source of the funds she received into her account from her husband and she had no powers to take any decision to influence the transaction.
Not satisfied with the high court judgment, Atuche filed an appeal.
On June 23, 2022 after hearing the appeal, the Court of Appeal affirmed the conviction of both Atuche and Ugo Anyanwu.
While the Court of Appeal reduced Atuche’s sentence to six years, it reduced Anyanwu’s sentence to eight years.
The Court of Appeal equally upheld the discharge and acquittal of Atuche’s wife.
The Supreme Court had earlier this year heard Chief Wole Olanipekun SAN, leading Chief Anthony Idigbe SAN and Prof. Fidelis Oditah SAN in the appeal which was initiated by Atuche against his conviction, while Dr. Pinheiro SAN who held the fiat of the Honourable Attorney General of the Federation led the team of lawyers representing the state, including Sebastine Hon SAN.