Kampala, Uganda | NOW THEN DIGITAL — The Anti Corruption Court in Kampala has taken decisive action against five individuals associated with Equity Bank, remanding them on charges related to a substantial fraud case amounting to 62 billion shillings.
Accused Personnel
The accused individuals include Julius Musiimenta, the Head of Agency Banking, Erina Nabisubi, serving as the Relationship Manager Telecoms, Fred Semwogerere, a Banker, Crescent Tumuhimbise Tibarwesereka, a Relationship Officer, and Wyclif Asiimwe, functioning as a Distribution and Marketing Consultant.
Charges and Court Proceedings
Presided over by Acting Senior Principal Grade One Magistrate Abert Asiimwe, the court read five counts to the accused, encompassing charges such as money laundering, obtaining credit by false pretense, and conspiracy to defraud.
The prosecution alleges that between 2021 and 2024, the accused conspired to defraud Equity Bank of 62 billion shillings by orchestrating the disbursement of unsecured loans to unqualified individuals, spanning various locations in Kampala and Wakiso Districts.
Specific Allegations
In particular, Erina Nabisubi, in her role as Relationship Manager Telecom, is accused of incurring a debt of 6.55 billion shillings from the bank under false pretenses, purportedly on behalf of Gladys Najjemba. Additionally, she allegedly obtained 300 million shillings, falsely representing Latiffa Nagawa as meeting loan requirements.
Julius Musiimenta stands accused of concealing the true ownership of 18 million shillings, purportedly received as gratification for facilitating a 700-million-shilling loan.
Legal Proceedings
The accused have been cautioned against making statements regarding the charges, as the court lacks jurisdiction to try the case. They will have the opportunity to plead in the High Court and apply for bail, should they choose to do so.
State Attorney Raymond Mugisa has stated that investigations are ongoing, with the prosecution assuring the defense of access to necessary documents for bail applications and trial preparation.
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Court Decision
Magistrate Asiimwe has directed the prosecution to provide updates on the investigation’s progress, expressing concern over the seriousness of the charges and the fairness of detaining the accused. Pending further developments, the accused have been remanded to Luzira Prison until April 12th, 2024.
