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A Palestinian who was charged with conspiracy to defraud Absa Bank, resulting in a financial loss of $267,500, equivalent to shillings one billion is expected to appear in court today, February 27, 2024.

Daniel Mariam Tarazi, 43, is scheduled to appear before principal grade one magistrate Christopher Opit at the Nakasero-based Anti-Corruption Court in Kampala. He was charged on February 13 and remanded to Luzira Prison.

Due to the absence of suitable sureties to stand for him, Opit remanded Tarazi. He was advised by court to secure reliable sureties and the necessary documents such as LC letters to apply for bail.

Tarazi, a resident of Muyenga in Makindye division in Kampala city, faces the charge alongside businessmen Salim Kisekka, also known as Salim Hassan Kisekka, and Sudanese businessman Muhamad Abdelbagi.

Prosecution alleges that the trio, along with others still at large, conspired to defraud the bank of shillings one billion.

Kisekka is facing a separate charge of causing a financial loss of $245,000 (about shillings 947 million) under section 20(1) of the Anti-Corruption Act of 2009 as amended.

The charge of conspiracy to defraud, as stipulated under Section 309 of the Penal Code Act, carries jail term of three years' imprisonment upon conviction.

In addition, under Section (20) (1) of the Anti-Corruption Act, a person convicted of causing financial loss could face a fine not exceeding shillings 4.8 million or a term of imprisonment not exceeding 14 years, or both.

According to the prosecution, between March 11 and 12, 2022, at the Masaka branch of Absa Bank Uganda Limited, Tarazi, Kisekka, Abdelbagi, and others conspired to fraudulently transfer funds from an account belonging to Abraham Yohannes.

The prosecution, led by state attorney Nicholas Kawooya, accuses Kisekka and others at large of fraudulently transferring funds from Absa Bank Uganda Limited in Masaka branch, amounting to $245,000 (about shillings 947 million).

It is alleged that Kisekka transferred funds from Absa account number 6005103183 in the names of Abraham Yohannes to account number 6004854231 in the names of Salim Kisekka by falsely representing that the transfer was made by the account holder as payment for the purchase of land and shares in Bukomansimbi Community Radio Limited, with alleged intent to cause financial loss to the bank.

However, Kisekka and Abdelbagi were not in court to plead to the charges. At the prosecution's request, the court issued a criminal summons for their appearance on February 27, 2024, to answer to the charges.