The CID at Kampala Metropolitan, in coordination with Equity Bank, have so far charged 8 accused persons to court with obtaining money by False Pretences, Money Laundering, and Conspiracy to defraud Equity Bank, with money amounting to Ugx 65bn. The 8 accused persons include; Musiime Julius, Nabisubi Erina, Tumuhimbise Cresent, Ssemwogerere Fred, Asiimwe Wycliff, Mugumya Robert, Kato Fred and Mukwaya Ronald. The charges stem primarily from the fraudulent diversion and disbursement of funds from the bank, in 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.
The accused persons depict a brazen effort to siphon monies from the bank, to instead fund personal gains. The 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.
The CID 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.
SCP Enanga Fred
Police Spokesperson
15th April 2024
PRO 132/01
