Fraud Allegations Resurface: EFCC Re-Arraigns Former Bank PHB MD In Major Felony Case

Fraud Allegations Resurface: EFCC Re-Arraigns Former Bank PHB MD In Major Felony Case

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Francis Atuche, the former Managing Director of the now-defunct Bank PHB Plc, on charges of conspiracy to commit felony and forgery…Fraud Allegations Resurface: EFCC Re-Arraigns Former Bank PHB MD In Major Felony Case

Atuche faces nine charges in connection with fraudulent activities.

Atuche was brought before Justice O. O. Abike-Fadipe at the Special Offences Court in Ikeja, Lagos, alongside co-defendants Nnosiri Joachim (also known as Ifeanyi) and Uguru Onyike. Their re-arraignment follows a previous case before Justice Habeeb Abiru, who has since been elevated to the Court of Appeal.

One of the charges involves Atuche and his co-defendants allegedly forging a document titled “Board Resolution” of Future View Securities Limited, dated December 17, 2007, with the intent to defraud. Another charge accuses Nnosiri Joachim of fraudulently using a false board resolution to Keystone Bank Limited, allegedly signed by Elizabeth Ebi of Trajek Nigeria Limited.

All defendants pleaded not guilty to the charges. The prosecution, represented by Fanen Anum, requested a new trial date, while defense attorneys sought to maintain the defendants’ existing bail conditions. Justice Fadipe granted the request for bail, and scheduled further proceedings for May 2025.

Atuche’s legal troubles intensified after he allegedly contacted Nnosiri, an office assistant at Keystone Bank, to deliver forged documents that were part of an ongoing case involving the EFCC. These documents, which had been missing since October 2009, included board resolutions from Future View Securities Limited, Extra Oil Limited, and Trajek Nigeria Limited.

This re-arraignment adds to Atuche’s mounting legal challenges with the EFCC.

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