Overview:
A former Cairo Bank staffer has been found guilty of conspiring to forge documents to secure a 200m Ugandan shilling loan in a high-profile loan fraud case.
A former credit officer at Cairo Bank in Uganda has been found guilty of conspiring to forge documents to secure a 200m Ugandan shilling ($50,000) loan.
Specioza Nassuna, 43, was convicted of aiding businessman Robert Kisolo in the scam, which involved creating fake powers of attorney and a bank valuation report.
The court heard that Ms Nassuna had smuggled a forged evaluation report into Mr Kisolo’s loan application file, which was then used to approve the loan.
The prosecution presented evidence from 11 witnesses, including handwriting experts and the rightful landowners, to prove the charges of forgery, obtaining credit by false pretense, and conspiracy to commit a felony.
Chief Magistrate Ronald Kayizzi ruled that the circumstantial evidence pointed to the guilt of both Ms Nassuna and Mr Kisolo.
The case has sparked concerns about the growing problem of bank fraud in Uganda, with 12,924 cases reported in 2023.
The prosecution is seeking a 10-year custodial sentence and a compensation order of 200m Ugandan shillings ($50,000) for Ms Nassuna.
The case has been adjourned to February 12 for sentencing.