Alleged N125b Fraud: Court Shifts Atuche, Ojo’s Trial


Akin kuponiyi
There is no reprieve yet for the former managing director of Bank PHB (now Keystone Bank Plc), Mr. Francis Atuche, and former managing director of the defunct Spring Bank Plc, Mr. Charles Ojo, as a Federal High Court, sitting in Lagos State, southwest Nigeria, has adjourned their trial in an alleged N125 billion fraud, till 28 and 29 October.‬
About two weeks ago Atuche and some of his aides were discharged in another alleged fraud case levelled against them by the Economic and Financial Crimes Commission, EFCC, by an Ikeja High Court of Lagos State.‬
Francis Atuche
The two former bank managing directors are standing trial before Justice Saidu Saliu of a Lagos Federal High Court, based on an amended 45-count criminal charge bordering on alleged N125 billion fraud, conspiracy, reckless granting and approval of loans and money laundering between 1 September, 2006 and 2009.‬
The two accused bankers who pleaded not guilty to the 45-count charge, are currently on bail.‬
The offences alleged to have been committed by the two accused bankers, according to EFCC, contravene Section 14(1) of the Money Laundering (Prohibition) Act and Section 516 of the Criminal Code Act Cap 38, Laws of the Federation of Nigeria 2004, while the offence of reckless granting of loans contravenes Section 7(1)(b) of the Advance Fee Fraud and other Fraud Related Offences Act and punishable under section 7(2)(b).‬
When the matter was mentioned Tuesday, counsel to the EFCC, Mr. Kemi Pinheiro (SAN) asked the court for a date for trial of the two accused persons.

Their lawyer Mr. Osahon Idemudia did not opposed the application.
Consequently, the trial judge, Justice Saliu Saidu, adjourned the trial of the two accused persons till 28 October.
EFCC re-arraigned both Atuche and Ojo before the court on charges of acquiring Keystone Bank’s shares using depositors’ …Read More

Source:: PM Newspaper