Bank official convicted in Shs200 million loan fraud
A credit bank official was on Tuesday convicted of aiding a client in fraudulently obtaining a Shs 200 million loan from Cairo Bank.
Specioza Nassuna, 43, a resident of Tega Zone in Nabbingo, was found guilty of conspiring with Robert Kisolo, a businessman from Bulamu Village in Nangabo sub-county, to forge documents that enabled him to secure the loan.
The forged documents included powers of attorney purportedly signed by Henry Ssemugooma Akalya-Amagwa, Clementina Babirye, and Catherine Namusoke, the lawful administrators of land comprised in block 109, plot 22 in Gwafu, Seeta. Nassuna also included a forged bank valuation and survey report of the land in Kisolo’s loan application file, which was the basis for the Shs 200 million loan.
The prosecution presented 11 witnesses, including the siblings whose ancestral land was mortgaged, bank officials, and handwriting experts. Their testimony proved beyond a reasonable doubt that Kisolo and Nassuna colluded to defraud Cairo Bank.
Chief Magistrate Ronald Kayizzi convicted both individuals. The prosecution, led by Chief State Attorney Joan Keko, requested a 10-year prison sentence and a Shs 200 million compensation order, citing the increasing number of bank fraud cases nationwide. Keko also emphasized the psychological and mental distress caused to the victims, including Henry Ssemugooma and his siblings.
Magistrate Kayizzi will deliver the sentence on February 12, 2025.
