Tycoon Ham, DTB Fraud Case Escalates As FIA Grills Bank Directors Over Money Laundering

Tycoon Ham, DTB Fraud Case Escalates As FIA Grills Bank Directors Over Money Laundering

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By Spy Uganda

Kampala: As we report this, one would be right to think that once a strong bank in Uganda, DTB is losing grounds. This after thousands of clients are reportedly abandoning the bank every day due to its shocking rot that is coming to the limelight, resulting from one of its alleged fraudulent deals against Uganda’s businesses magnate Hamis Kiggundu that went bazack.

It’s very clear that since last year, the bank has made a lot of expenses in legal gymnastics battling with tycoon Hamis Kiggundu of Ham Enterprises, who dragged them to court on account of illegally debiting over USD34M from his company’s accounts.

Even when bank officials are still sweating plasma in court on the same cases, Financial Intelligence Authority (FIA) seems to be not merciful with them, after on Monday, 24, 2021 summoned them to explain about the matter.

FIA’s Letter To DTB

According to the letter seen by Spy Uganda addressed to DTB, the officials were summoned to answer questions/issues that fall within the mandate of the FIA as defined in the Anti-Money Laundering Act, 2013 (as amended in 2017).

Read Letter Below;

HAM ENTERPRISES, KIGGS INTERNATIONAL (U) LTD & HAMIS KIGGUNDU VERSUS DIAMOND TRUST BANK (U) LIMITED & DIAMOND TRUST BANK (KENYA) LIMITED

The Financial Intelligence Authority has keenly been following the proceedings in Civil Suit no. 43 of 2020 between the parties cited above, and all the subsequent Applications thereunder.

We took note of the initial decision by the High Court in the matter and have also taken note of the recent decision of the Court of Appeal in the matter, particularly its decision to remit the matter back to the High Court for a fresh trial.

While we are generally privy to the matters at hand, and we do not seek to intervene in the matter in a manner that may influence the court proceedings in one way or another, we believe it is prudent for us (FIA) to have a meeting with the Bank to better understand the goings-on. Please note that the scope of the meeting will be limited strictly to questions/issues that fall within the mandate of the FIA as defined in the Anti-Money Laundering Act, 2013 (as amended in 2017).

Accordingly, this is to invite the Bank officials for this meeting which we propose for Monday 24th, 2021, starting at 10:00Am, at the FIA Boardroom on 4th Floor, Rwenzori Towers (Wing B). The team from the Bank should not exceed 6 officials so as to be compliant with social distancing measures as we continue to combat COVID-19.” partly reads the letter sent to bank officials.

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