Wednesday, March 29, 2023
  • Login
The Investigator News
Advertisement
  • Home
  • News
    • All
    • Science
    • World
    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Stephen Kissa the Pace-setter

    Stephen Kissa: Unveiling the Country’s Pace-maker who set Ace Cheptegei`s World Athletics` Gold and Bronze Medals

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    A Day in Life: UEFA’s Aleksandra Ceferino’s ‘Pass Time’ Visit to The Aliguma offered a Real-Life Time Opportunity to Repackage Uganda’s Football; But it didn’t!

    A Day in Life: UEFA’s Aleksandra Ceferino’s ‘Pass Time’ Visit to The Aliguma offered a Real-Life Time Opportunity to Repackage Uganda’s Football; But it didn’t!

    Cry My Beloved Country: How Patriotic Brenda Nanyonjo is Staking Her All to Keep the Miss Uganda Brand Afloat as Government Shamelessly Gaze On

    Cry My Beloved Country: How Patriotic Brenda Nanyonjo is Staking Her All to Keep the Miss Uganda Brand Afloat as Government Shamelessly Gaze On

    Have This Instead: Remorseful Sevo Gives Land as Compensation to Boxing Body for their Fallen Zebra ‘Mando’ Senyange, Murdered by Security

    Have This Instead: Remorseful Sevo Gives Land as Compensation to Boxing Body for their Fallen Zebra ‘Mando’ Senyange, Murdered by Security

    BAD NEWS: Veteran Singer Halima Namakula and her National Promoters Associations Set to Kill the Entertainment Industry with their new Permit Ultimatum

    BAD NEWS: Veteran Singer Halima Namakula and her National Promoters Associations Set to Kill the Entertainment Industry with their new Permit Ultimatum

    Boxing Big Envelope: Making Sense of the Enormous Envelope Received by Uganda Boxing Federation President Moses Muhangi

    Boxing Big Envelope: Making Sense of the Enormous Envelope Received by Uganda Boxing Federation President Moses Muhangi

    What a Wasted Investment in the 59-Day Lasted Vipers` Coach Roberto Luiz who Registered only 0 Wins against a Heavily Lavish Vipers Squad!

    What a Wasted Investment in the 59-Day Lasted Vipers` Coach Roberto Luiz who Registered only 0 Wins against a Heavily Lavish Vipers Squad!

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Is God Thus Far? Muslim Mother Leaves Behind Her Kids to go for Overnight Prayers but Forgets to Pray For them. Two Suffocate to Death

    Is God Thus Far? Muslim Mother Leaves Behind Her Kids to go for Overnight Prayers but Forgets to Pray For them. Two Suffocate to Death

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    NWSC Milestone: Parombo Water Supply Operations Gets Power Upgrade that Migrates from Generators to Hydro Power 

    Uganda to Host the Next African Water Association Congress and Exhibition as NWSC MD DR. Eng. Silver Mugisha wins Second Presidential Term

    Thursday With Joan Bonny: When the Stranger Becomes your Hero than the People you are Familiar with, Know Better

    Thursday with Joan Atuhwera: The Pressure from Society for Young men and Women to get Married is Extremely Needless

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery 

    Work in Progress: NWSC Starts Water Supply Extension to the East African Crude Oil Pipeline (EACOP) Sites in Sembabule

    World Pangolin Day: Let’s Do Something and Quickly or The Pangolin Could Go Extinct Before Most People Realize It Exists

    World Pangolin Day: Let’s Do Something and Quickly or The Pangolin Could Go Extinct Before Most People Realize It Exists

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

  • Crime news
  • Politics
  • Business
  • Interviews
  • CIP Records
No Result
View All Result
  • Home
  • News
    • All
    • Science
    • World
    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Fake Blackmail: Let Ham Deliver Nakivubo Stadia instead of Labeling Bond Okello, Audrine Nsubuga Unpatriotic

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    Heroine! Presidency Minister Milly Babalanda Saves Kyabazinga from Physical Assault at the Canada Busoga Symposium

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    All Royal: HRH Kamuswaga Concludes His Official Trip to California with Lots of Investors` Attraction to Kooki Kingdom

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Of Daily Monitor’s 30th Well-Earned Birth Bazaar And the Tough Scribes That Have kept M7`s Sleep in Constant Check

    Stephen Kissa the Pace-setter

    Stephen Kissa: Unveiling the Country’s Pace-maker who set Ace Cheptegei`s World Athletics` Gold and Bronze Medals

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Digital Technologies Could Help Uganda’s Economy Recover Faster

    Liquid Telecom to host first cloud event of its kind in Uganda

    Liquid Telecom to host first cloud event of its kind in Uganda

    TECNO Mobile Uganda Skills Graduates Through Its Graduate Trainee Program

    TECNO mobile Uganda skills graduates through its graduate trainee program

    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    A Day in Life: UEFA’s Aleksandra Ceferino’s ‘Pass Time’ Visit to The Aliguma offered a Real-Life Time Opportunity to Repackage Uganda’s Football; But it didn’t!

    A Day in Life: UEFA’s Aleksandra Ceferino’s ‘Pass Time’ Visit to The Aliguma offered a Real-Life Time Opportunity to Repackage Uganda’s Football; But it didn’t!

    Cry My Beloved Country: How Patriotic Brenda Nanyonjo is Staking Her All to Keep the Miss Uganda Brand Afloat as Government Shamelessly Gaze On

    Cry My Beloved Country: How Patriotic Brenda Nanyonjo is Staking Her All to Keep the Miss Uganda Brand Afloat as Government Shamelessly Gaze On

    Have This Instead: Remorseful Sevo Gives Land as Compensation to Boxing Body for their Fallen Zebra ‘Mando’ Senyange, Murdered by Security

    Have This Instead: Remorseful Sevo Gives Land as Compensation to Boxing Body for their Fallen Zebra ‘Mando’ Senyange, Murdered by Security

    BAD NEWS: Veteran Singer Halima Namakula and her National Promoters Associations Set to Kill the Entertainment Industry with their new Permit Ultimatum

    BAD NEWS: Veteran Singer Halima Namakula and her National Promoters Associations Set to Kill the Entertainment Industry with their new Permit Ultimatum

    Boxing Big Envelope: Making Sense of the Enormous Envelope Received by Uganda Boxing Federation President Moses Muhangi

    Boxing Big Envelope: Making Sense of the Enormous Envelope Received by Uganda Boxing Federation President Moses Muhangi

    What a Wasted Investment in the 59-Day Lasted Vipers` Coach Roberto Luiz who Registered only 0 Wins against a Heavily Lavish Vipers Squad!

    What a Wasted Investment in the 59-Day Lasted Vipers` Coach Roberto Luiz who Registered only 0 Wins against a Heavily Lavish Vipers Squad!

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Is God Thus Far? Muslim Mother Leaves Behind Her Kids to go for Overnight Prayers but Forgets to Pray For them. Two Suffocate to Death

    Is God Thus Far? Muslim Mother Leaves Behind Her Kids to go for Overnight Prayers but Forgets to Pray For them. Two Suffocate to Death

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    Stealing A Glance at Balokole Polls: Pastor Kyazze Takes Early Lead as Bisiyaga Assumes the Center Stage at The Election of New Leadership Today

    NWSC Milestone: Parombo Water Supply Operations Gets Power Upgrade that Migrates from Generators to Hydro Power 

    Uganda to Host the Next African Water Association Congress and Exhibition as NWSC MD DR. Eng. Silver Mugisha wins Second Presidential Term

    Thursday With Joan Bonny: When the Stranger Becomes your Hero than the People you are Familiar with, Know Better

    Thursday with Joan Atuhwera: The Pressure from Society for Young men and Women to get Married is Extremely Needless

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery 

    Work in Progress: NWSC Starts Water Supply Extension to the East African Crude Oil Pipeline (EACOP) Sites in Sembabule

    World Pangolin Day: Let’s Do Something and Quickly or The Pangolin Could Go Extinct Before Most People Realize It Exists

    World Pangolin Day: Let’s Do Something and Quickly or The Pangolin Could Go Extinct Before Most People Realize It Exists

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

  • Crime news
  • Politics
  • Business
  • Interviews
  • CIP Records
No Result
View All Result
The Investigator News
No Result
View All Result

Stanbic Dollar Fraud: Betrayal as the Bank Chose to Kill the Goose that Laid their Golden Eggs, Just to Please Selves

A Zoom into Missing Links and How the Real Whistleblower Moses Ayesiga Turned into the Bank`s Sacrificial Lamb

February 22, 2023
inBusiness, Crime news, Featured
Stanbic Dollar Fraud: Betrayal as the Bank Chose to Kill the Goose that Laid their Golden Eggs, Just to Please Selves

Team Leader: CEO Ann Juuko (Courtesy Photo)

4.6k
SHARES
7.1k
VIEWS
WhatsappShare on FacebookShare on Twitter

We can’t readily tell whether it was done to protect the image of the banking institution, its leadership and, or it was out of protecting their supposed negligence. But whatever transpired in handling the USD1.8M fraud case at Stanbic Bank leaves a lot to be desired.

For starters, since the breaking of this now popular story at the weekly Police Press Briefing on Monday, this website hasn’t published any of its bit. This is because as we still investigated, it popped out before we could join the dots and indeed, as our culture, we took time and here, we join the missing links. Before Monday, the Bank Spokesman Kenneth Amooti Agutamba had sent us a brief which, we felt wanting and hence this piece.

Well, it all started on Thursday February 2nd 2023 when, a well face-masked Tefera Okuba Classie Robel, 34, an Eritrean by origin and a resident of Bunga in Makindye Division, majestically walked into Stanbic Bank at Garden City Branch. Smartly personating the person of Mohamed Abdul Hakim Hussein, a Director at Nile Energy and a co-signatory on the company account, and in full possession of a passport and work permit in the same names, Tefera made a double transfer of USD287000 and 295000 respectively.

These transactions were via an inter-account transfer system. One transfer went to an individual Account at the same bank and another, into the Account of Petrom Limited. The rest is a public story. However, we have since gathered that after the transactions, the Branch Manager, Moses Ayesiga, communicated to the Risk and Compliance Department of the Bank and waited for their action. The following day, Friday, the same Tefera walked into the bank to make another transaction of USD988,000.

The Story of How a Whistle Blower Turned into a Suspect!

Following his instincts, Ayesiga checked to see whether the Risk and Compliance had responded to his red alert. To his shock, there was nothing like a response or any reaction to the same. It is upon this development that he excused self, to call and verify the transaction with Mohamed Abdul Hakim Hussein`s co-signatory. “I am with my colleague here. Please hold whoever is impersonating him as we come,” said Mohamed`s colleague.

Blew the Whistle: Moses Ayesiga (Courtesy Photo)

At this moment, Ayesiga alerted their security personnel who immediately arrested Tefera and indeed, by the time the Account holders arrived, the suspect was in firm grip of Ayesiga. Had Ayesiga didn’t do what he did, maybe it would have been a different story, without any suspect to show. It should be noted that earlier on, another, suspiciously untold incident, had happened at the Forest Mall Branch.

Here, probably the same person smartly walked into the Bank, impersonated the same Mohamed Abdul Hakim Hussein, withdrew USD200,000 and, walked out unnoticed. Whereas the Garden City Branch story led to other revelations at, and attracted arrests of staff from the Freedom City Branch, the Forest Mall incident remains unmentioned. Reason? Maybe another story for another day. Nevertheless, back to Moses Ayesiga`s revelation of the fraud and causing the arrest of the `prime suspect` Tefera, he, in tow with the Nile Energy Directors as well as the Bank security, delivered the confident and well-composed Tefera to Jinja Road Police Station.

Here, he penned his statement and retired home a satisfied fella. Come Saturday, he reported to work and carried out the usual business before again, he retired home in one piece. However, on Sunday, he was invited for a `meeting` at his Branch, by the regional manager, Samuel Ssewanyana. It is now that he was informed of a need for him to make an additional statement. He left his car behind, joined Ssewanyana and went to Jinja Road Police to do the needful.

When there, he was told no additional statement was needed from him. He was informed of his new status in the case. He was among the top suspects! Upon his arrest and detention, orders were issued for Moses not to be accessed by anybody, not even his family and or, lawyers. These orders were reportedly from KK Advocates` boss, Counsel Edwin Karugirewhose law firm, we are gathering, happens to be Nile Energy lawyers.

Between Monday and Wednesday, police picked more people including the Freedom City Branch Manager David Ssekitto and two Tellers Ritah Komukama and Geoffrey Nsabagashani. The latter was detained at Kira Road Police. Others are three Directors of Famane Investments Co. Limited; Oman Ghebreyesus, Phiona Dede Bwende (a relative to a big-name Army General and wife to Oman), and Elijah Daniel Wanzu.

We are still digging deeper to unearth why this was the case. But with full approval of Stanbic top authorities, Moses Ayesiga and fellow staffers, were given in as the prime suspects who actually, orchestrated the fraud! And indeed, on Monday 13th 2023 at Police Headquarters, the Police Spokesman, SCP Fred Enanga, released the detailed report on how the fraud was committed, with Moses Ayesiga in the fraudulent driving seat!

“The theft happened multiple times between January and February 2023, on the advice and direction of managers, the funds were withdrawn using forged documents… The group in conspiracy with selected Stanbic bank staff both at Garden City and Freedom City branches compromised the account of Nile Energy and effected transactions in Inter Account Transfers and made withdraws using three accounts,” Mr. Enanga announced as indeed, prior briefed. Nowhere it is mentioned how the Bank got a clue of the much-hyped fraud case.

Today, all Stanbic Bank customers, especially those with joint accounts, and the same have since visited the bank, there are changes where, without a practical phone call made to the absent co-signatory, no transaction can be made on any account. Stanbic authorities ought to shallow the humble pie and appreciate that it is Moses Ayesiga who solely set this precedent when, the Risk and Compliance colleagues totally ignored his red alert. And he should have held the title of a whistle blower and hence held as a witness in his own right.

Tenterhooks

Well, all in total absence of the Forest Mall case mention, the lot was finally dragged to Anti-corruption Court where, they are faced with causing financial loss and money laundering! Following this development, there`s yet unreported tenterhooks in the top management corridors at Stanbic. Reasons? Some believe the matter could have been handled from within, especially where, there was reportedly no intrusion of the bank systems. Those in this school of thought have precedential cases as references at their fingertips.

Also Coming Up here and at the Investigator Online Tv; Delving in previous and more hazardous cases which Stanbic managed and retained their offending staff members complete with promotions thereafter… Why did it take long for Nile Energy to get knowledge of the fraud yet they are Business Online Registered!… Who is responsible for the Forest Mall incident and why!… How a city lawyer has checked Stanbic over losing USD50+K!… How Nile Energy was thrown out of a bank where they had initially wanted to open an account with a USD11M initial deposit!… How highly connected Dede secured a police bond but refused to use it! Who is Moses Ayesiga and why what happened had to happen to him… Watch this space…

Author Profile

Stanley Ndawula
Stanley Ndawula
Stanley Ndawula is a two and a half decades’ seasoned investigative journalist with a knack for serious crimes investigations and reporting. He’s the Founding Editorial Director and CEO at The Investigator Publications (U) Limited
Latest entries

Author Archives

  • Business2023.03.12Developing: City Mayor Poses as Buyer of President Museveni`s Donated Nurses Union Land on Market, Elects to Return the Recovered Title to Sevo in Vain
  • Business2023.02.28Stanbic Fraud: Key Suspect Arrested, Remanded as Fears take Form that Moses Ayesiga Could Have Stepped on Some Toes When He Caused Tefera`s Arrest
  • Business2023.02.28Killer Ego as UNRA Risks to Lose their Posh Vehicles Courtesy of Errant Bureaucrats Who Ignored a Cat for a Bull Now
  • Business2023.02.22Stanbic Dollar Fraud: Betrayal as the Bank Chose to Kill the Goose that Laid their Golden Eggs, Just to Please Selves
Tags: Ann Jjuuko Contract endInvestigator TvMuhamed Hakim HusseinStanbic Dollars Fraud
SendShare1854Tweet1159

Comments 1

  1. Wante Martino says:
    4 weeks ago

    Few people know that KK are BIG thieves, if any one has ever received a Demand Notice from UMEME, they you can tell that they use Photocopies from this Law Firm, outright Forgery, Karugire is known to have Grabbed Land measuring almost 3 miles and fenced it of chasing away the owners without paying them. he then put a road block manned by UPDF, one day, just one day things will change, these people now live in swamps, has any one seen them in Luwero/Nakasongora!

  • Manukau with her child

    Business Woman and Royalist Nabukalu Hamidah Still Missing

    17087 shares
    Share 37123 Tweet 23202
  • Equity Bank Becomes a Den of Thieves: Top Veteran Journalist Aldrine Nsubuga Arise to Save a customer`s UGX47M

    24279 shares
    Share 9712 Tweet 6070
  • The Mohan Family Tales: Tycoon Mohan Kiwanuka finally speaks out about his family empire turbulence, writes to Son

    16581 shares
    Share 6632 Tweet 4145
  • In Kaka’s Horror Grip: Exclusive details why President Museveni invited Ronald Mayinja to perform for him at Kololo

    10678 shares
    Share 4271 Tweet 2670
  • Kabaka Laughs off his ‘Death’: Family tells Investigator the Son of Muteesa is in good health and relaxing in Kenya

    10245 shares
    Share 4098 Tweet 2561
  • Terms of Use
  • Privacy & Policy
  • Contact

© 2022 The Investigator News - More Than Just News Without Fear or Favour.

No Result
View All Result

© 2022 The Investigator News - More Than Just News Without Fear or Favour.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In