The Anti-Corruption Court in Kampala has remanded five employees of Equity Bank on charges of conspiring to defraud the bank of 62 billion shillings.
The accused individuals are:
- Julius Musiimenta – Head of Agency Banking
- Erina Nabisubi – Relationship Manager Telecoms
- Fred Semwogerere – Banker
- Crescent Tumuhimbise Tibarwesereka – Relationship Officer
- Wyclif Asiimwe – Distribution and Marketing Consultant
They appeared before the court presided over by Acting Senior Principal Grade One Magistrate Abert Asiimwe. The charges against them include money laundering, obtaining credit by false pretense, and conspiracy to defraud.
The court heard that between 2021 and 2024, in various locations in Kampala and Wakiso Districts, the accused conspired to defraud Equity Bank of 62 billion shillings by fraudulently disbursing unsecured loans to unqualified individuals.
According to the breakdown presented in court, Erina Nabisubi, while employed as the Relationship Manager Telecom at Equity Bank Church House in Kampala City, incurred a debt of 6.55 billion shillings from the bank. She falsely claimed that the loans were for Gladys Najjemba, who she presented as fulfilling the bank’s requirements, which was not true.
Nabisubi is also accused of intentionally impeding the establishment of the true ownership of 6.5 billion shillings obtained from the bank through Account Number 1032100370335 in the name of Najjemba, falsely purporting it as a loan when it was proceeds of crime.
Furthermore, Nabisubi is alleged to have incurred a debt of 300 million shillings, falsely presenting Latiffa Nagawa as meeting the loan requirements.
Julius Musiime is accused of concealing the true ownership of 18 million shillings, which he allegedly received as gratification from Stella Mutuuza for processing a 700 million shillings loan. He directed Mutuuza to deposit the gratification into Gilbert Rwaheru Kiiza’s account, knowing the deposits were proceeds of crime.
The court advised the accused not to respond to the accusations, stating that it lacked jurisdiction to try the case. They were informed that they would plead to the charges in the High Court and could apply for bail if desired.
The Prosecution, led by State Attorney Raymond Mugisa, informed the court that investigations were ongoing. Defense lawyers, led by Solomon Webale Araali, requested all necessary documents for bail applications and trial preparation.
The Prosecution agreed to provide the documents at their convenience, stating that inquiries were still ongoing.
Magistrate Asiimwe ordered the Prosecution to be prepared to update the court on the progress of the investigation. He expressed concern over arresting the accused on serious offenses without concluding investigations. The accused were remanded to Luzira Prison until April 12th, 2024.
