Fraud: 10 suspects in custody for stealing a client’s USD1.8M from Stanbic Bank

Police in Kampala has arrested ten people including two managers for Stanbic bank for stealing UGX 6.6 billion from one of the bank’s customers.

In a statement released by Stanbic Bank, they confirmed the arrest saying the arrests were made with the help of Uganda Police. Reports confirm that the incidents of fraud that happened multiple times between January and February 2023 , and had the involvement of the Bank branch managers.

It has been revealed that the funds were withdrawn using forged documents including a Kenyan passport number AK 0849025 and forged account transfer forms, all in the names of  Mohamed Abdul Hakim Hussein , a director and signatory to an account belonging to  Nile Energy.

The withdraws were able to go through after the two bank managers hack into the accounts of Nile Energy to authorize the account to pay money to three different accounts and in bits.

The money was paid to an account number 9030012835107 in the name of Dixon Kagurusi Ampumuza, 9030021572615 in the name of Petrom Limited and 9030018628871 under the name of Femane Investments Company Limited.

The withdrawals were made in installments of  $495000, $287000, $295000, $90,000, $60,000, $295000 and $495000.

The hacked was broken when the said group tried to withdraw more money on February, 3, 2023, but due to verification process, the account holders for Nile Energy who denied any authorizations. The suspect was then arrested and found with $4900 and shs600,000 in his possession.

It was then that the owner of the bank account was able to know that over shs6.6 billion had fraudulently been siphoned from his account without his knowledge and authorization.

The police spokesperson said nine people including Robert Tefera, Moses Ayesiga, the branch manager for Stanbic Bank Garden City branch, Brian Natukunda, a former employee of the bank, Oman Ghebreyesus, Fiona Dede Bwende, Elijah Wanzu and Davis Ssekitto, the bank manager for Stanbic Freedom City branch have since been arrested.

They are all facing charges related to money laundering,  causing financial loss, and the uttering of forged documents.