back to top
HomeNewsCrimeScandal: Top Cairo Bank Staff Convicted Over 200M Loan Scam

Scandal: Top Cairo Bank Staff Convicted Over 200M Loan Scam

Published on

- Advertisement -spot_img

Buganda Road Chief Magistrate’s Court has convicted Specioza Nassuna, a credit official at Cairo Bank, for her role in fraudulently securing a Shs 200 million loan using forged documents.

The 43-year-old resident of Tega Zone, Nabbingo, was found guilty alongside Robert Kisolo, a businessman from Bulamu village, Nangabo county. Both were convicted on five counts, including forgery, obtaining credit by false pretenses, and obtaining money by false pretenses.

Chief Magistrate Ronald Kayizzi ruled that Nassuna conspired with Kisolo to forge documents related to land located in Block 109, Plot 22, Gwafu Seeta, Mukono District. The duo falsified signatures of the land’s lawful administrators Henry Ssemugooma Akalya-Amagwa, Clementina Babirye, and Catherine Namusoke and used the forged documents to secure the fraudulent loan.

The prosecution, led by Joan Keko, presented 11 witnesses, including handwriting experts, Cairo Bank officials, and the affected family members. The evidence showed that Nassuna had smuggled a bank valuation and survey report into Kisolo’s loan application file, leading to the disbursement of the money.

Keko urged the court to impose a ten-year sentence and a compensation order of Shs 200 million, citing an increase in bank fraud cases nationwide. A 2023 police report revealed that 12,924 cases of bank fraud were recorded, with forgery and false pretenses being among the most common crimes.

The prosecution also highlighted the emotional distress suffered by Ssemugooma’s family, who nearly lost their family land.

Magistrate Kayizzi adjourned the case to February 12, 2025, for mitigation and sentencing, leaving Nassuna and Kisolo awaiting their fate.

Related

Engulfed Businessman Asiimwe Emmanuel Has A Case  To Answer Regarding Forgery And Uttering Forged Documents, Risks Jail If Found Guilty

In a blockbuster ruling at Buganda Road Court on Wednesday, the Chief Magistrate, His...

Mercy Kanyesigye Calls For Swift Conclusion Of Suspended NRM Youth Elections

NRM National Youth MP candidate for the 2026–2030 term, Mercy Kanyesigye, has urged the...

Uganda Law Society Launches Digital Training, Clears Global Dues, And Prepares 2029 Commonwealth Bid

The Uganda Law Society (ULS) has unveiled a new drive to modernize the legal...

Frustrated URA Commissioner Resigns, Wangwe Tipped For Top Domestic Taxes Job

The Uganda Revenue Authority (URA) is on the brink of a significant leadership shake-up...

More from The Capital Times

Business Boom In Namugongo Ahead Of Martyrs Day

Business has picked up this morning at Namugongo Martyrs shrine according to traders. The...

Uganda Adopts Kiswahili As Official Language

Uganda has adopted Kiswahili as an official language, a top government official said on...

Big Size Recap: London Parties With Legendary Bebe Cool’s Break The Chains Album Was Massive

On August 12th, Bebe Cool held a successful listener’s party at Masq London, Restaurant...