Six granted bail on charges of defrauding Tropical Bank UGX 2 Billion

Kampala, Uganda | THE INDEPENDENT | The Anti-Corruption court in Kampala has granted bail to six people accused of conspiring to defraud Tropical Bank limited more than 2.1 billion shillings.

Those granted bail include; Hajjara Nansubuga, Faridah Nasiiwa and Deborah Acen, all bankers from Tropical Bank Limited. The others are; Paul Kiggundu and Kenneth Nsubuga Ssebagayuga, who are both lawyers and city businessman/land broker Muzafaru Lukanika Kamoga.

The group has been granted a cash bail of 10 million shillings each by the Chief Magistrate Joan Aciro and each of their sureties bonded at 500 million shillings not cash based on the presumption that they are innocent on the four charges related to causing a financial loss to the bank.

It is alleged that the suspects together with others still at large on July 22nd 2021, and July 26th 2022, while at the Tropical Bank Kawempe Branch in Kampala city, irregularly processed payment of 900 million Shillings to Imran Advocates and Solicitors for the purpose of land in Bulemezi Block 886 plot 2 in Mukono.

It is also alleged that on July 30th 2021, the accused persons irregularly processed payment of 585 million Shillings to Nsubuga KS and Company Advocates for the purpose of land in Namande Block 68 plot 43 in Mityana district.

The prosecution also alleges that the accused persons further processed payment of 642.5 million Shillings for businessman Muhammed Kembere on August 4th 2021, and August 9th 2022. According to the prosecution, the said transactions were conducted in disregard of the proper bank procedures and payment processes.

But they denied the charges on Tuesday and spent a night at Luzira prison, before they were granted bail on Wednesday.

The grant of bail followed applications submitted by their lawyers led by Richard Rugambwa who argued that the offenses are bailable, and that the clients have fixed places of abode and that some of them had been in police custody for more than the mandatory 48 hours which was a violation of their constitutional right.

But on their part, the prosecution asked court to deny bail on grounds that the witnesses have capacity to interfere with the ongoing investigations. They further prayed that should court be pleased to grant them bail, stringent terms should be imposed against the accused persons because there are colossal sums of money involved in the case and the accused deposit like a passport or their certificates of land titles with court.

In her ruling, the Chief Magistrate Aciro granted them bail arguing that there is no evidence that once released, the accused persons will interfere with the ongoing investigations.

She added however that none of the accused persons appears to be having a valid passport save for those phased out ones and that they did not have titles in their names. Aciro thus granted them bail and adjourned the case to September 23rd 2022 for mention.

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