Rédaction Africa Links 24 with The Observer
Published on 2024-03-21 02:27:52
The Anti Corruption court in Kampala has taken action against five employees of Equity Bank who have been accused of conspiring to defraud the bank of a staggering Shs 62 billion. The suspects, including Julius Musiimenta, Erina Nabisubi, Fred Semwogerere, Crescent Tumuhimbise Tibarwesereka, and Wyclif Asiimwe, were presented before acting senior principal grade one magistrate Abert Asiimwe. They face charges of money laundering, obtaining credit by false pretense, and conspiracy to defraud.
According to the court proceedings, it is alleged that between 2021 and 2024, the accused individuals conspired in various locations in Kampala and Wakiso districts to scam Equity Bank of Shs 62 billion by deceitfully facilitating unsecured loans for unqualified individuals. One piece of evidence presented to the court highlighted Erina Nabisubi, the relationship manager telecom at Equity Bank Church House in Kampala, accumulating a debt of Shs 6.55 billion by falsely claiming that the loans were on behalf of Gladys Najjemba, who was purported to meet the bank’s loan requirements when, in fact, she did not.
Further accusations were directed at Nabisubi, as it was claimed that she acquired a debt of Shs 300 million and misrepresented Latiffa Nagawa as the eligible borrower for that loan. Additionally, Julius Musiime was accused of concealing the ownership of Shs 18 million, which he allegedly received illicitly as a gratification for processing a loan of Shs 700 million for Stella Mutuuza.
The suspects were advised by the court not to comment on the charges, as the court lacked jurisdiction to try them. They were informed that they would have the opportunity to enter their pleas and apply for bail in the High Court if desired. The prosecution, led by state attorney Raymond Mugisa, clarified that investigations were ongoing in the matter.
The lawyers representing the accused persons, headed by Solomon Webale Araali, requested the prosecution to provide all necessary documents for bail applications in the High Court and trial preparations. The prosecution assured that the documents would be disclosed at their convenience as the investigation progressed.
Magistrate Asiimwe ordered the prosecution to update the court on investigation progress, expressing concern over the severity of the charges and the possible unfairness of the arrests before investigations were concluded. He decided to remand the suspects in Luzira prison until April 12.
Overall, the case against the five Equity Bank employees paints a picture of a complex web of fraudulent activities aimed at defrauding the bank of a significant amount of money. The court proceedings shed light on the alleged deceptive practices and schemes orchestrated by the suspects, indicating a thorough examination of their actions and potential consequences.
Read Original article on The Observer
