DPP Confirms Charges Against Top BoU Officials Over Fraud

DPP Confirms Charges Against Top BoU Officials Over Fraud

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By Spy Uganda

Kampala: The Director of Public Prosecutions (DPP) has confirmed charges against the former Deputy Governor BoU Louis Kasekende, former Director of Commercial Bank’s Supervision Justine Bagyenda and the Central Bank’s Director for Financial Markets Development Coordination (FMDC) Benedict Sekabira.

In an August 4th letter titled, Prosecution of Bank of Uganda officials to wit Louis Kasekende, Justine Bagyenda and Benedict Sekabira, addressed to a petitioner named Kakuru Sam, the DPP Jane Frances Abodo effectively confirmed that the trio are under investigation.

DPP Abodo’s Letter

“This is to acknowledge receipt of your complaint in regards to the above [investigation of Kasekende, Bagyenda and Sekabira]. This letter is addressed to two institutions which are both mandated to direct on investigations. The complaint should be addressed to one institution for proper investigations and follow-up and also to avoid duplicity and wastage of resources, “reads DPP Abodo’s letter.

DPP was responding to an earlier letter written by CID in regard to the investigations and prosecution of the three officials.

The decision to prosecute the trio comes after the DPP wrote to the Criminal Investigations and Intelligence Department (CIID) requesting that properties they irregularly acquired due to the closure of seven commercial banks be attached.

A forensic parliamentary audit by the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) discovered that the three-Kasekende, Bagyenda and Sekabira, profited from the botched closure of seven commercial banks.

In its report, the Committee recommended that the relevant arms of government like the Inspectorate of Government (IGG), Directorate of Public Prosecutions (DPP) and the Financial Intelligence Authority (FIA) take interest in how the trio acquired astronomical wealth.

 

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