Businessman remanded for defrauding Cairo Bank of sh200M

Kampala, Uganda | THE INDEPENDENT | Businessman Robert Kisolo has been remanded on charges of obtaining credit by false pretense after he allegedly defrauded Cairo Bank Limited.

Kisolo on Monday afternoon was arraigned before Buganda Road Court Grade One Magistrate Fidelis Otwao and he denied the charges against him.

The court has heard that Kisolo and others still at large during the month of September 2016 at Cairo Bank in Kampala district incurring a debt or a liability to Cairo, obtained credit worth 200 million shillings from the said bank by means of fraud on mortgage of property comprised in Kyaggwe block 22 land at Gwafu in Mukono district.

Kisolo was charged in the absence of a State Attorney and therefore it could not be  easy to understand the progress of investigations into this matter.

But Clementina Babirye who led a family of complainant’s at court has told Uganda Radio Network that people they don’t know stole their family land title to obtain the said money from Cairo Bank. She said their family land title was registered in  her name Babirye and his brother’s name Henry Ssemugoma and their sister Catherine Namusoke.

She said when the land title got lost, they applied for a special title and obtained it in 2006. But later, Kisolo who is not related to them and others still at large allegedly used their stolen land title which had been cancelled to obtain the said monies and as as such Cairo Bank put a caveat on their land .

But the bank reportedly refused to believe their claims and asked them to look for Kisolo saying that they knew him whereas not. Uganda Radio Network couldn’t independently verify this claim.

Babirye added that since that time, other family members thought that they had obtained the said monies but they are happy that they have finally got Kisolo who was arrested by the detectives of Criminal Investigations Department of Police about three days ago.

She said that as the family, they have also instituted civil proceedings regarding this matter before the Mukono High Court. Kisolo will now return to court on June 15th 2023 for mention of his case.

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COURT