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Nairaland Forum / Nairaland / General / Politics / Bank PHB’s Former MD In Fresh N14bn Scam (2147 Views)
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Bank PHB’s Former MD In Fresh N14bn Scam by REALTRUTH1: 12:34am On Oct 23, 2009 |
THE sacked Managing Director of Bank PHB, Mr. Francis Atuche, is in for more troubles as the Economic and Financial Crimes Commission (EFCC) discovered another N14 billion fraud allegedly perpetrated by him. According to EFCC investigation, the sacked managing director was said to have given two subsidiaries of the bank, the Bank PHB Assets Management Limited and Platinum Capital Limited, loan facilities of N14 billion. The two companies, upon further investigation, said to be owned by the sacked managing director and not the bank, as they made the people and staff to believe. As if that was not enough, about 20 staff of Bank PHB were said to have been seconded to the two companies, while the bank was still paying their salaries. In the course of investigation, the Nigerian Tribune gathered that the EFCC discovered that the two companies were owned by Atuche and not the bank, using the bank’s money to pay the staff working in his private companies. When contacted on the development, the EFCC’s Head, Media and Publicity, Mr. Femi Babafemi said “I have an idea of what you are talking about, but not the details yet.” Atuche, one of the five bank chiefs recently sacked by the CBN, was arrested by the commission’s operatives last Friday and has been in custody since. He has applied to the EFCC to grant him bail or charge him to court rather than detaining him perpetually. But the EFCC, which took two of the bank chiefs – Atuche and Spring Bank’s ex-Managing Director, Charles Enehola Ojo – to court was given the leave by the court to detain them in its custody until November 3, 2009. http://www.tribune.com.ng/23102009/news/news3.html |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by REALTRUTH1: 9:08am On Oct 23, 2009 |
Wonders shall never end in this bank bruhaha!!!!!1 |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by nethacker(m): 1:02pm On Oct 23, 2009 |
and these idiots could not give youth education loan to study abroad |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by Nezan(m): 2:11pm On Oct 23, 2009 |
Na waoh! when will this sad development end? |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by kshow1(m): 2:55pm On Oct 23, 2009 |
They should all rot in jail |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by saworoide: 3:08pm On Oct 23, 2009 |
The more you look; the less you see |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by seedord247(m): 3:31pm On Oct 23, 2009 |
tell me why the mass wont do yahoo yahoo. when a Bank PHB MD is stealing 14 billion Naira no be cedi |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by Nobody: 4:02pm On Oct 23, 2009 |
Are these monies not supposed to be shareholders fund? |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by cvibe: 5:24pm On Oct 23, 2009 |
Thank God for Sanusi! |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by olafolarin(m): 5:27pm On Oct 23, 2009 |
It is almost impossible for PHB Asset Mgt and PHB capital to belong to Atuche.It is PHB's property.It can never be his private company.Most of these banks have property and stockbroking arms and employees are "poached" to different arms to garner or diversify knowledge. Tribune and EFCC must have goofed on this, |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by rasputinn(m): 5:37pm On Oct 23, 2009 |
This is the case of a born criminal |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by MrCrackles(m): 5:42pm On Oct 23, 2009 |
Wow Atuche pretty much cleaned out man |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by bibiking1(m): 5:49pm On Oct 23, 2009 |
Atuche really had some stuff up his sleeves! |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by Menene(m): 6:01pm On Oct 23, 2009 |
These men are bad strategist! The punishment should also affect their children. That is wickedness. |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by Emperoh(m): 10:01pm On Oct 23, 2009 |
These ones were caught because their Banks had issues Now, i espect someone to be asking about the Banks that haven't got an issue? Or is someone trying to tell me Elumelu, Ovia, Imokhuede et al are clean? EFCC should investigate them and not wait for CBN to tell us they are sick before moving in!!! |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by toxorro: 10:50pm On Oct 23, 2009 |
There is more to this. |
Re: Bank PHB’s Former MD In Fresh N14bn Scam by santakris(m): 10:49am On Oct 24, 2009 |
Still the same story. A typical Nigerian is not trust worthy. Only God can save us frm these evil men. |
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