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The bail application filed by five employees of Equity Bank, who were charged with conspiracy to defraud the bank of sh62b, has been deferred.

Justice Lawrence Gidudu rescheduled the application that was fixed for April 11, 2024, to April 30, 2024. The move, according to the judge is to enable the lawyers representing the accused to prepare.

Head of agency banking Julius Musiime, relationship manager Erina Nabisubi, banker Fred Ssemwogerere; Crescent Tumuhimbise Tibarwesereka; and distribution and marketing consultant Wycliff Asiimwe were charged on March 20, 2024, at the Nakasero-based Anti-Corruption Court in Kampala.

They were all remanded to Luzira Prison because presiding magistrate Albert Asiimwe stated that he does not have the mandate to handle bail application on charges of money laundering. He advised them to apply for bail in the Anti- Corruption Division of the High Court

The accused applied for bail pending the conclusion of inquiries and hearing of the case

Prosecution’s case

The prosecution, led by chief state attorney Raymond and state attorney Pamela Orokot from the Office of the Director of Public Prosecutions (ODPP), allege that Musiime, Nabisubi, Ssemwogerere, Tibarwesereka and Asiimwe conspired to defraud Equity Bank of sh62b between 2021 and 2024 in various places within Kampala city and Wakiso district. They are accused of fraudulently causing the disbursement of unsecured loans to unqualified people.

Regarding the charge of obtaining credit by false pretenses, where Nabisubi is facing the charge alone, it is alleged that between 2021 and 2024 at Equity Bank Church House branch in Kampala, while employed as a relationship manager, Nabisubi incurred a debt of sh300m from Equity Bank by falsely claiming that the loans were applied for by Latiffa Nagawa and that she had fulfilled the bank's requirements for accessing loans.

Additionally, still on the charge of obtaining credit by false pretence, the prosecution alleged that between 2021 and 2024 at Church House, Nabisubi intentionally concealed the ownership of sh6.5b that she fraudulently obtained from Equity Bank, purporting that the money was applied for by Gladys Najjemba as a loan, whereas it was not.

It is further alleged that Nabisubi in 2021 and 2024 while employed as a relationship manager, concealed the ownership of sh6.5b, which she fraudulently obtained through account number 1032100370335 in Gladys Najjemba’s name claiming that the money was applied for by Najjemba as a loan.  

Pertaining the charge of money laundering against Musiime, it is alleged that between 2021 and 2024 at Equity Bank Church House, he concealed the ownership of sh18m, which he received as gratification from Stella Mutuuza for processing a loan of sh700m from the bank in the name of Gilbert Rwaheru Kizza, knowing that the money was proceeds of crime.