By PATRICK JARAMOGI
KAMPALA, [SHIFTMEDIA] Top Equity Bank Uganda official faces arrest over alleged abuse of office and forgery, we can exclusively report.
One of the officials, a Kenyan national has according to detectives been eluding arrest for the past two years.
Jimmy Mwangang the Head of Credit at Equity bank is wanted for fraud related cases.
Detectives attached to the Criminal Investigations Directorate told us Mwangang is accused of forging a loan agreement to the tune of UGX 176 million purportedly requested by a one Harrison Busingye the Managing Director of Hydra Homes, whereas not.
The case ref: CID/C40/207 FRAUD VOL. 43 follows complaint filed but Busingye against the Equity Bank on September 1st 2020.
Busingye says Equity Bank illegally imposed a UGX 176m on him with intention to steal his multibillion property in Kyadondo, Block 244 Plot 4529 Land located in Muyenga, an upscale Kampala suburb, on which they placed several mortgages.
Equity Defies Court Orders
A report released by Nebosh Sophie, the Head of the Economic Crimes and Financial Intelligence, dated August 18 2022, that we obtained, Equity Bank defied court orders restricting them from interfering with Busingye’s property valued at UGX4.5 billion.
“During our investigations, the Bank officials and excel bailiffs who were trying to auction the property were told to respect the court order,’ said Okello Francis the investigating officer.
The CID noted that Equity Bank also defied directives from the the Director of Public Prosecution, requesting for release of the Bank’s policy guidelines and manuals for applications, payments and loan recoveries.
Forgery Issues Arise
Investigations revealed that Equity Bank illegally credited Hydra Homes Account with a loan to the tune of UGX 176,000,000 and immediately used it to clear Nathan Mwesigye’s bad debt.
Remember in our earlier stories we reported how Mwesigye, Busingye’s brother accessed a shs350 million loan and staked his two brand new Sino Trucks Reg No: UAZ 813K and UAZ 754K that were valued at UGX 700 million as security.
Busingye also placed his Muyenga property as an additional security. But when Mwesigye defaulted with payments, the bank sold his trucks and also went ahead to auction Busingye’s house.
Apparently, we learnt from the auctioneers that one of the trucks worth UGX 350m was auctioned at a paltry UGX 50 millions only.
Busingye protested the new UGX 176 million loan slapped on him by the bank by filing a suit in court. During the investigations, Equity bank in its defense, availed a certified loan agreement between the Bank and Hydra Homes (U) Ltd which was strongly contested by Amanda Uwera Vanessa, a co-director to Busingye.
Amanda told detectives that the said signature purporting to be hers in the said loan agreement of UGX 176 million was forged.
“The documents we have obtained indicate that the contested loan agreement bears signatures of the Head of Credit of Equity Bank, a one MWANGANG JIMMY, who was summoned to police to make a statement but has refused to date,” noted the police report.
Property worth Billions sold at UGX400m
Investigations revealed that despite the court restraining Equity Bank and is agents, Excel Auctioneers from interfering in Busingye’s Muyenga property, they went ahead and auctioned the UGX 4.5b property in Muyenga at a paltry UGX 400 million.
This purchase has however been blocked by court after Busingye filed a suit protesting the illegal purchase. Security guards are currently deployed at the property.
Forensic Results Released
Not yet down trodden, Busingye wrote to the Inspector General of Police requesting for a forensic investigations regarding the forged signatures of his co-director, Uwera Amanda Vanessa.
In a July 7 2022 letter (REF: CID/CI/40/41/04 VOL 8) from the IGP signed by Chepkurui Shunu Jimmy, that we have in possession, the Director Forensic Services Uganda Police Force was instructed to investigate.
On July 8 2022, the Ag Director Forensic Services, Andrew K. Mubiru released the deplorable report (REF DFS/191/407/022).
The report done by Sebuwufu Erisa the Forensic Document Examiner, and reviewed by Hashakimana Clare, another forensic document examiner, using scientific analytical methods VSC 5000, Video Spectra Comparator, unearthed fundamental differences between the signatures on exhibits P (the personal guarantee forms) marked X and sample signatures on exhibits A (Vanessa Uwera’s signatures on plain paper) and D (Uwera’s signature on her Staff identity card)
“Based on the observation made above, and the nature of documents examined in my opinion, it is most likely that the author of sample signatures on exhibits A and D did not sign the questioned signature marked X on exhibit P,” ruled Sebuwufu.
Arrest Orders Out
We can exclusively report that after the forensic report showed forgery on the part of Equity Bank officials, the Director CIID wrote to the DPP for further guidance on the case.
DPP inside sources revealed to us that they have instructed the CIID to use any means possible to have Jimmy Mwangang arrested and arraigned in court.
“What we have been waiting for was explicit orders from the DPP to have this man arrested. We summoned him he declined to come, we now have to trace him out at all costs,” said a detective we shall not name.
Mwangang and Equity Bank management declined to comment when approached.