The crime investigations directorate CID working closely with the anti-fraud team at Equity bank has so far charged eight people for allegedly obtaining money by false pretenses, money laundering, and conspiracy to fraud equity bank with money amounting to UGX 65 billion.
The accused persons include Julius Musiime, Elina Nabisubi, Crescent Tumuhimbise, Fred Ssemwogerere, Wycliffe Asiimwe, Robert Mugumya, Fred Kato and Ronald Mukwaya.
The charges are primarily from the fraudulent diversion and disbursement of funds from the bank in the form of unsecured loans to unqualified people including their relatives and other non-existent persons by the suspects after opening up accounts where they could receive the money from.
Some of these relatives created fictitious companies where they fraudulently disbursed huge amounts of money that would be picked directly by their staff or indirectly using co-conspirators, proxies or other conduits.
The accused persons in so doing siphoned monies from the bank fund for their personal gains and when forensic audits and investigations were carried out several of the bosses including the then managing director Kenneth Onyango opted to resign from the bank. Onyango is out on police bond after interrogation.
The police spokesman Fred Enanga says that after the forensic audit they expect to carry out more arrests of other suspects.
"We shall be guided by the office of the Director of Public Prosecution on a case of Kenneth Onyango and other suspects still at large" says Enanga.
