The Kampala metropolitan crime intelligence department (CID) has arrested and charged 8 suspects in court for obtaining money by False Pretences, Money Laundering, and Conspiracy to defraud Equity Bank, with money amounting to Ugx 65bn.
According to the police spokesperson Fred Enanga the accused include Musiime Julius, Nabisubi Erina, Tumuhimbise Cresent, Ssemwogerere Fred, Asiimwe Wycliff, Mugumya Robert, Kato Fred and Mukwaya Ronald.
Enanga disclosed that 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.” Said the police spokesperson Enanga
He however, revealed that several suspects are being traced including those who resigned after the massive fraud was detected, noting that the former Managing Director Onyango Kenneth remains a subject of the ongoing investigation although he had already been interrogated.
Enanga further disclosed how their team in conjunction with Equity bank are committed to holding accountable those who seek to line their pockets through sophisticated bank frauds and money laundering schemes.
“this case demonstrates, we will work tirelessly to combat fraud affecting banks, which are vital in providing banking services to Ugandans.” He stated
The said suspects were arrested by the Kampala Metropolitan Police’s Criminal Investigation Department (CID) in collaboration with Equity Bank’s anti-fraud team. This was after a probe revealed details of the elaborate scheme that led to the diversion and laundering of substantial funds.
