Francis Atuche Jailed Ex-MD Bank PHB Begs For Mercy

Francis Atuche Jailed Ex-MD Bank PHB Begs For Mercy

Francis Atuche, the disgraced and imprisoned ex-MD of the collapsed Bank PHB, begs the Ikeja High Court for mercy, claiming he will not steal clients’ money again.

“I pray that God would instill kindness in your heart. I beg you from the depths of my heart. I apologize profusely. Today is a watershed moment in my life. “Please accept my apologies,” he pleaded.

iexclusive News Nigeria report that Francis Atuche, a former Managing Director (MD) of Bank PHB, pleaded Justice Lateefa Okunnu not to sentence him to prison after his conviction for defrauding the bank of N25.7 billion on Wednesday night in an Ikeja High Court.

In 2011, the Economic and Financial Crimes Commission (EFCC) convicted Messrs Atuche and Ugo Anyanwu, the bank’s former chief financial officer, guilty of 22 of the 27 counts of conspiracy and theft brought against them.

Mrs Elizabeth Atuche

Mrs Okunnu found Mr Atuche’s wife, Elizabeth, not guilty of two counts of conspiracy and stealing brought against her alongside the trio.

Messrs. Atuche and Anyanwu were found guilty late at night after a lengthy trial that began at 9:12 a.m. and ended at 9:21 p.m.

The judge inquired if they had any pleas to make after convicting them at 8:18 p.m. They affirmatively responded.

Mr. Atuche pleaded with the court not to imprison him. Mrs Okunnu, he prayed, would balance justice with kindness.

“During my term as the MD of Bank PHB, I dedicated everything I had to the bank. It never occurred to me at any point that I would devise a plot to defraud the bank.

“I beg for pity, leniency, and your kindness, and I beg that you will not send me to jail because of your kindness and compassion.

He added, “I am sorry and remorseful.”

Mr. Atuche stated in court that as a professional banker and certified accountant, he did not want to become a convicted felon.

Mr Anyanwu also told the court that he was the sole son of a police officer who died when he was only a year old while he was pleading.

He went on to say that he was raised on the principle of hard labor.

“It took a lot of hard work to get where I am in the banking profession. During the last ten years of this battle, I have suffered greatly. I apologize if I came across as arrogant in the witness box during my cross-examination-in-chief.

“I have two children who are barely in their adolescent years. They look up to their father, and I’m curious as to how this will affect them. Mr Anyanwu begged, “Please temper justice with mercy.”

In response to the defendants’ pleas, the EFCC team led by Kemi Pinheiro demanded harsh terms and reparations from the defendants.

“The defendants took us to the Court of Appeal and the Supreme Court multiple times,” he stated. They were obnoxious and arrogant during the trial. That isn’t remorse at all. Anyanwu, the third defendant, chose to put his devotion to his boss (Atuche) ahead of his duty to the state. We hope the court sentences you to the greatest penalty possible and requires restitution.”

“By stealing from the bank, they took from the bank’s innocent customers,” Mrs Okunnu said. I hereby issue a restitution order against the first and third defendants, ordering them to return the amounts specified in counts one through eleven, fourteen, and twenty-four. The cash will be paid to the appropriate agencies that recovered the monies on the bank’s behalf.”