Five employees of Equity Bank Uganda were remanded to Luzira Prison by the Anti-Corruption Court after they were charged with conspiring to defraud their employer.
The five are alleged to have disbursed at least Shs 62 billion in unsecured loans to individuals that did not qualify to get them.
The suspects are: Musiime Julius, the Head Agency Banking; Erina Nabisubi, a relationship manager at the bank; Ssemwogerere Fred, a banker; Tumuhimbise Cresent, a relationship officer and Wycliff Asiimwe, a distribution and marketing consultant at the bank.
On March 7, 2024, Equity Bank admitted, in a statement that it had detected fraud within its system. The bank instituted investigations which netted the suspects.
The bank said, it had since embarked on collaborations with some of its staff and customers to assist law enforcement officers in investigations.
