Kampala, (UG):- The Crimes Investigations Directorate at Kampala Metropolitan working together with Equity Bank have so far charged to court eight suspects accused of obtaining money by false pretences, money laundering, and conspiracy to defraud money amounting to Ugx 65bn.
The eight accused persons include; Musiime Julius, Nabisubi Erina, Tumuhimbise Cresent, Ssemwogerere Fred, Asiimwe Wycliff, Mugumya Robert, Kato Fred and Mukwaya Ronald.
According to police spokesperson SCP Fred Enanga, “The charges stem primarily from the fraudulent diversion and disbursement of funds from the bank, in the form of unsecured loans to unqualified people. Some of these included relatives, with whom they created fictitious companies and fraudulently disbursed huge amounts of money, that would be picked directly by the staff or indirectly using co-conspirators, proxies or conduits.”
It is further indicated that the accused persons depict a brazen effort to siphon monies from the bank, to instead fund personal gains, with Enanga stating that forensic investigations are ongoing to determine the gravity of the fraud.
“Several suspects are being traced, including those who resigned, after the massive fraud was detected. The Former Managing Director, Onyango Kenneth, was interrogated and still remains a subject of investigation,” Mr Enanga said.
He added that the CID at KMP, Equity Bank and other partners are committed to holding accountable those who seek to line their pockets through sophisticated bank frauds and money laundering schemes.
“All this case demonstrates, we will work tirelessly to combat fraud affecting banks, which are vital in providing banking services to Ugandans,” remarked Enanga.
Case Background
Prosecution alleges that between 2021 and 2024, at Equity Bank, in Kampala City, Ms Nabisubi, being a person employed as a relationship manager in charge of telecom, incurred a debt of Shs6.55b from Equity Bank. She allegedly pulled this off by falsely claiming that the loans were being applied for by Gladys Najjemba, who she fronted as having fulfilled the bank requirements for accessing the loans whereas not.
The state contends that Ms Nabisubi also incurred a debt of Shs300m from Equity Bank by falsely representing that the loans were being applied for by Latiffa Nagawa.
The latter was reportedly fronted as having fulfilled the bank requirement for accessing the loans whereas not. It is alleged that between 2021 and 2024 at Equity Bank headquarters, situated at Church House in Kampala, Ms Nabisubi intentionally impeded the establishment of the true ownership of Shs6.5b which she fraudulently obtained from Equity Bank as loan through account number 1032100370335 in the name of Gladys Najjemba.
The accused reportedly claimed that the said funds were applied for by Najjemba as a loan, not knowing that the said funds were proceeds of crime.
The state further alleges that Mr Musiime intentionally concealed the true ownership of Shs18m, which he received as gratification from Stella Mutuuza.
The reward was for having allegedly fraudulently processed a loan of Shs700m from Equity Bank by requiring Mutuuza to deposit the said gratification on account number 1013101211316 in the name of Gilbert Rwaiheru Kiiza.
This was all done well knowing that the said deposits were proceeds of crime according to state prosecution.
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