Tag: BANK FRAUD
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Court reduces ex – banker’s N25.7bn fraud conviction, upholds sentencing
The Appeal Court sitting in Lagos has upheld the conviction of former Managing Director (MD) of former Bank PHB Plc, Francis Atuche who was convicted in connection with N25.7bn fraud. At a hearing on Thursday, the court however reduced his sentence of 12 years to six years. The court also affirmed the conviction of Atuche’s…
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US Court reopens $20 million alleged fraud case involving Air Peace boss
The court has jettisoned the earlier trial date of June 27, 2022 date earlier fixed in February
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Bank fraud: Indian billionaire jeweller offers to refund money
Disgraced billionaire jeweller Nirav Modi, a key accused in India’s biggest-ever bank fraud of 1.8 billion U.S. dollars, has reportedly given a “concrete proposal” to state-owned Punjab National Bank to refund the money. In a letter to the bank, Modi has offered jewellery, current account deposits and immoveable properties to cover his liabilities with…