The courtroom drama surrounding the Absa Bank fraud case, in which a staggering sh22 billion found its way into a customer’s account, is set to resume on November 13, 2023. Ronald Jimmy Ajuk, the accused, faces charges of causing financial loss to Absa Bank.
The prosecution contends that Ajuk, a resident of Mbalwa village in Wakiso district, fraudulently utilized $219,931 (about sh848 million) from Absa Bank during June 2022. The case takes a peculiar turn as digital forensics analyst Julius Wakhooli, testifying as the fifth witness on September 19, 2023, claimed that the system malfunctioned, leading to the erroneous creation of Ajuk’s account.
According to the prosecution, $6 million (sh22.4 billion) was mistakenly credited to Ajuk’s account number 6006916145. Ajuk’s defence argues that the money received was legitimate and originated from Germany.
Despite Ajuk’s denial of the charges, the prosecution alleges that he knowingly spent money that wasn’t rightfully his, causing a substantial loss to Absa Bank. The case adds another layer of complexity as Ajuk was absent during Wakhooli’s testimony on September 19, citing illness. However, Justice Lawrence Gidudu ruled that the witness must testify, allowing the defense to cross-examine on November 13, 2023.
If convicted under Section (20) (1) of the Anti-Corruption Court Act, Ajuk could face a fine not exceeding sh4.8 million or a maximum imprisonment term of 14 years, or both.
As the legal proceedings unfold, the Absa Bank fraud case raises questions about financial systems’ vulnerabilities and accountability in preventing such significant financial discrepancies.