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SHOCKING: Police Detectives Produce Deadly Report On How Bank of Africa Fraudulently Played With Client’s Money

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Finally, a group of senior detectives from the Criminal Investigations Department (CID) have produced their investigation report on how Bank of Africa staff defrauded Jeffery forex bureau sh15,423,450,493.
The team of Police investigators from Kibuli headquarters were led by W. Kototyo the deputy director economic crime and anti-Corruption, Dhabangi John from the department of economic crimes and financial intelligence and Isaac Wabweyo the investigating officer.
According to the report given to this website number CID/C40/207/fraud, titled: Report on the alleged case of fraudulent transaction on the accounts of Jeffery forex bureau limited held at Bank of Africa Vide CID headquarters GEF 698/2016 and GEF 370/16, the detectives discovered that Bank of Africa and Jeffery forex bureau limited are both registered financial institutions with Bank of Uganda and they do forex exchange, banking and money remittances respectively.
Detectives state that they established that Jeffery forex bureau started it’s business in Uganda in 1997. It was established that Jeffery forex bureau limited holds the following accounts with Bank of Africa, UGX20206094001, USD 2020609436, EUR 02060940000 and GB pounds 02060940088.
The detectives further established that whenever a business need arose, the management of Jeffery forex bureau limited would make transactions on those accounts for instance money transfers, receiving, buying, selling of forex and sending funds outside the country.
It was discovered that several deals in foreign currencies were done on these accounts by Ronald Mutebi, Rogers Lutaaya, Ahmed Kalule and Walter Nirwotti Munanu all senior staffs of Bank of Africa. The report shows that they all admitted in the statements they made before the police during interrogation.
It was discovered that in the Month of November and December 2015, the said accounts had over sixty (60) business deals, all postdated and done by the treasury staff to cushion the bank from the losses earlier made through forex bureau trading without authorization from the bank management.
The detectives established that the suspects were given high targets by the bank to make profits came up with proprietary trading which meant that in case the bank made a loss to the forex bureau transaction, the staff in question would book another future transaction to make provision for the loss and the cycle would continue like that until the loss to the bank crystalized on these transactions.
It was established that through these fictitious transactions, the treasury department thought they would meet the target of making profits for the bank and were instead making the forex lose.
It was also established that these transactions were carried out on the accounts of Jeffery forex bureau and were done without the knowledge, consent or approval of the forex bureau.
It was estimated that through these fictitious transactions carried out by staff Bank of Africa the forex bureau lost sh15,423,540,493.
It was also established that it’s against these questionable transactions that Bank of Africa revoked the operational license suspending all business with Jeffery forex bureau and closing its bank accounts.
“Following the above, investigations so far done and the evidence collected we would suggest that our file be submitted to DPP for perusal and legal advice,” the team of detectives recommended.
The forex bureau also filed a civil suit number 320 of 2018 in the High Court of Kampala commercial court division against the Bank of Africa.
“That by simple computation, the magnitude of the defendant bank’s impugned transactions amount to USD 26,321,352,96, EUR 14,639,239, GBP 16,496,651,” part of the forex bureau admission on the Court’s record reads.
The commercial court registrar allocated the file to Justice David Wangutusi. However, before the kick of the case, both parties were given an opportunity for mediation.
Court accredited Virji Mahabuba to chair the mediation, the plaintiff was represented by M/S Kinobe, Mutyaba and company Advocates while the defendants were represented by M/S Sebalu, Lule and Company Advocates
Unfortunately, Mahabuba reported back to Justice Wangutusi and informed him in writing that the mediation he gave him to chair have failed and both parties are ready to battle out legally in court. The file has already been taken back to the judge for scheduling.
This website will keep you posted on this case.

THE DOCUMENTS

The document that proves that meditations failed

By Jamil Lutakome

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MTN Chairman Charles Mbire Quizzed Over Telecom Giant’s Saga

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MTN Chairman Charles Mbire has been quizzed over the MTN saga according to information obtained by the Grapevine.

Security sources have told this website that the tycoon was quizzed over activities of top expatriates (some of whom have been deported), who used the mobile system to try to distabilise national security by supporting subversive activities.

“These MTN bosses, some of who have been deported, were using the mobile money system to support some individuals who wanted to distabilise the country. Money from individuals from hostile countries was being passed through their MoMo system,” the security source told the Grapevine.

When quizzed further on what really took place during Mbire’s quizzing, the source told this website that this information is still confidential.  MTN CEO Wim Vanhelleputte was deported yesterday back to Belgium, three weeks after three of the company’s expatriate staff were expelled.

Security sources have also told the Grapevine that former Head of Legal and Lawyer Katamba Anthony recorded statements. The source added that MTN is also involved in under declaration of Mobile money transactions.

Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.

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MTN WOES: Telecom Giants Confirm CEO Vanhellputte’s Deportation, Quickly Appoint  Ugandan As New Boss

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Telecom Giants MTN have confirmed that their CEO Mr. Wim Vanhelleputte has been deported from Uganda.
In a statement issued by MTN Group Corporate Affairs, MTN says that, “MTN confirms that Mr. Wim Vanhelleputte, the CEO of MTN Uganda has been deported from Uganda. MTN has not been notified of the grounds for the deportation and is working hard to establish precise reasons for the deportation.”
“We are understandably concerned about these developments and are engaging with the authorities to seek understanding that would lead us to resolving this matter.
To ensure business continuity, we have appointed Mr. Gordian Kyomukama, currently Chief Technology Officer, as Acting Chief Executive. Our focus continues to be on delivering the best quality products and services to our customers,” the statement further reads.

Mr. Gordian Kyomukama

Yesterday, Mr. Vanhelleputte was kicked out of Uganda back to Belgium after security forces got information that he was involved in subversive activities that were threatening the country’s security.
Mr. Vanhellputte’s deportation comes on the heels of deportation of three of his staff. Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.

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TENSION: MTN CEO Kicked Out Of Uganda Three Weeks After His Three Staff Were Deported For Being A Threat To National Security

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MTN CEO Wim Vanhelleputte has been deported tonight back to Belgium, according to sources, weeks after three of the company’s expatriate staff were expelled.
Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.
A deportation letter dated 14th February 2018, signed by Minister of Internal Affairs Jeje Odongo says that Vanhelleputte has been ‘deemed to be an undesirable immigrant’.
“And I further declare that this order shall be carried into effect by the removal of the said Wim Vanhelleputte by deportation and while waiting to be conveyed to the place of departure shall be kept in custody,” part of the deportation order reads.


Last July, MTN said armed men claiming to be from Uganda’s Internal Security Organisation “kidnapped” two of its contractors and forced them to open up the company’s main data centre, where they made an unsuccessful attempt to access it’s servers.
The telecom firm, one of Africa’s largest, has run into legal trouble elsewhere.

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