Its a moment of panic in the Diamond Trust Bank (DTB) management after Court summoning their top managers on charges of theft among others in the case involving Kampala City tycoon Hamis Kiggundu.
On top of the bank managers, Court has also issued criminal summons against Prince Karim Al-Husayn Shah, the Founder and Chairman of the Aga Khan Fund for Economic Development still on the same matters of illegal transfer of transactions worth billions from Hamis Kiggundu's bank accounts by Diamond Trust Bank (DTB).
The summoned include, Prince Karim Al-Husayn, Nassim Muhamed Devji- Group Chief Executive Officer and Managing Director Kenya,Varghesi Thambi- Chief Executive Officer DTB Uganda and John Sitakange-Head of Credit DTB Uganda.
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| Criminal Summons |
The summons reveal that the group is accused of electronic fraud, uttering false documents, conspiracy to commit a felony and theft.
Therefore, Court wants the group on 28th September 2021 to appear before Buganda Road Magistrate’s court to take plea on the above charges.
‘’WHEREAS your attendance is necessary in Court to answer charges of theft contrary to Section 254 of the Penal Code Act Cap 120, making false entries in financial ledgers contrary to Section 47) & (3) of the Financial Institutions Act, 2004, electronic Fraud contrary to Section 19 of the Computer Misuse Act, uttering false documents contrary to Section 351 of the Penal Code Act Cap 120 and conspiracy to commit a felony contrary to Section 390 of the Penal,'' reads the summons.
Therefore, Court wants the group on 28th September 2021 to appear before Buganda Road Magistrate’s court to take plea on the above charges.
‘’WHEREAS your attendance is necessary in Court to answer charges of theft contrary to Section 254 of the Penal Code Act Cap 120, making false entries in financial ledgers contrary to Section 47) & (3) of the Financial Institutions Act, 2004, electronic Fraud contrary to Section 19 of the Computer Misuse Act, uttering false documents contrary to Section 351 of the Penal Code Act Cap 120 and conspiracy to commit a felony contrary to Section 390 of the Penal,'' reads the summons.
Meanwhile, it is alleged that the top bank officials superintended illegal and unlawful transactions of Shs 34,295,951,553 and $23,467,670 from his bank accounts.
According to Kiggunda, four who are summoned do not meet the criteria and they are not fit and proper persons to own, control and manage a bank or any other financial institutions in accordance with the 3rd schedule of the Financial Institutions Act, 2004.
According to Kiggunda, four who are summoned do not meet the criteria and they are not fit and proper persons to own, control and manage a bank or any other financial institutions in accordance with the 3rd schedule of the Financial Institutions Act, 2004.
Background Of The Matter
In February 2011 and August 2018 when Kiggundu sought and offered $4,014,444 and $6,974,600 loans by the DTB Kenya for the construction of commercial properties. To secure the loan Kiggundu mortgaged Kyadondo Block 248, Plot 328 land at Kawuku, FRV 1533, Folio 3, Plot 36-38, Victoria Crescent II Kyadondo and LRV 3176 Folio 10, Plot 923, and Block 9 located at Makerere Hill Road.
According to court documents, DTB Kenya contacted DTB Uganda to collect a loan facility from the businessman. However, DTB-Uganda insisted that it did not act as an agent of DTB-Kenya to conduct business in Uganda, but only sought its services as a collection agent for it to receive its payments from Ham Enterprises Limited.
As a result therefore, the tycoon was forced in March last year to drag both banks to court for siphoning over Shs120 billion from his accounts without his consent. In fact, Ham also wanted the court to declare that the banks demand $4,014,444 and $6,974,600, which was advanced to him by DTB-Kenya, is illegal and unenforceable on the grounds that the Kenyan bank had no license to carry out financial business in Uganda.
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