After about 13 years of trial, the Supreme Court, on Friday morning upheld the conviction of the former Managing Director of the defunct Bank PHB Plc, Mr Francis Atuche in a N25.7 billion fraud case. The apex court, in a unanimous decision, held that Atuche, the Appellant, failed to dislodge the finding of the trial court which convicted him and the Court of Appeal which affirmed the conviction. The judgment brings the criminal charge to finality after over 13 years.
In the lead judgment read by Justice M.A.A. Adumein, the Supreme Court relied on its previous decisions that where the judgment 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 did not give it any reason to tamper with the concurrent finding 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.
On June 16, 2021, Justice Okunnu in a judgment that lasted about 12 hours, convicted Atuche alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.
The court convicted the duo on 21 of the 27-count amended charge of conspiracy to commit felony and stealing brought against them by the EFCC. Justice Okunnu held that the EFCC successful proved its case against the convicts beyond reasonable doubt.
Atuche and Anyanwu were sentenced 12 years and and 10 years respectively by the High Court. However, it was reduced by the Court of Appeal, with Atuche getting six years while Anyanwu got eight years. She freed Atuche’s wife, Elizabeth on the grounds that the EFCC failed to link her to the crime. The court insisted 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. The convicts were to serve their jail terms at the Kirikiri Maximum Correctional Facility in Lagos. Dissatisfied with the judgment, the convicts approached the appeal court and on the 23rd of June, 2022, the Court of Appeal affirmed the conviction of both men. The appellate court also clarified that Atuche’s jail term, as handed down by the lower court, is six years concurrently, rather than 12 years. The Justices, however, reduced Anyanwu’s sentence from 10 years to eight years. They also upheld the discharge and acquittal of Atuche’s wife, Elizabeth.
Meanwhile, the Supreme Court had earlier this year heard Chief Wole Olanipekun SAN, leading Chief Anthony Idigbe SAN and Prof. Fidelis Oditah SAN in another appeal which was initiated by Atuche against his conviction, while Dr. Pinheiro SAN who held the fiat of the Attorney General of the Federation led the team of lawyers representing the state, including Sebastine Hon, SAN. The unanimous decision of the Supreme Court this morning brings to finality this criminal charge after over thirteen years.