The bail application for five Equity Bank employees, charged with conspiracy to defraud the bank of 62 billion Ugandan shillings, has been postponed. Justice Lawrence Gidudu rescheduled the hearing, initially set for April 11, 2024, to April 30, 2024. This postponement aims to allow the defense attorneys ample time for preparation.
Head of agency banking Julius Musiime, relationship manager Erina Nabisubi, banker Fred Ssemwogerere, Crescent Tumuhimbise Tibarwesereka, and distribution and marketing consultant Wycliff Asiimwe faced charges on March 20, 2024, at the Nakasero-based Anti-Corruption Court in Kampala. They were remanded to Luzira Prison since the presiding magistrate, Albert Asiimwe, deemed himself ineligible to handle bail applications for money laundering charges. He directed them to seek bail from the Anti-Corruption Division of the High Court.
The accused submitted bail applications pending the conclusion of investigations and trial proceedings.
According to the prosecution, led by Chief State Attorney Raymond and State Attorney Pamela Orokot from the Office of the Director of Public Prosecutions (ODPP), Musiime, Nabisubi, Ssemwogerere, Tibarwesereka, and Asiimwe allegedly conspired to defraud Equity Bank of 62 billion shillings between 2021 and 2024 in various locations within Kampala city and Wakiso district. They purportedly facilitated the disbursement of unsecured loans to unqualified individuals through fraudulent means.
Specifically, Nabisubi faces charges related to obtaining credit by false pretenses. It is alleged that between 2021 and 2024, while serving as a relationship manager at Equity Bank Church House branch in Kampala, she incurred a debt of 300 million shillings from the bank under false pretenses, falsely attributing loan applications to Latiffa Nagawa.
Additionally, Nabisubi is accused of concealing the ownership of 6.5 billion shillings fraudulently obtained from Equity Bank by purporting that the funds were applied for by Gladys Najjemba as a loan, when in reality, they were not. Similar allegations are levied against her for concealing the ownership of another 6.5 billion shillings obtained through an account in Najjemba’s name.
Regarding the charge of money laundering against Musiime, it is alleged that between 2021 and 2024, at Equity Bank Church House, he concealed the ownership of 18 million shillings, received as gratification from Stella Mutuuza for processing a 700 million shilling loan in the name of Gilbert Rwaheru Kizza, knowing that the money constituted proceeds of crime.
