Africa-Press – Uganda. Police are investigating allegations that district officials and staff at the bank were involved in the fraud.
Police in Soroti District are investigating circumstances under which about Shs54m of Emyooga funds was withdrawn from three Sacco accounts in Finance Trust Bank Soroti Branch without the knowledge of the signatories.
Police are investigating allegations that district officials and staff at the bank were involved in the fraud.
The money, which was meant for three Saccos in Gweri Country, was reportedly withdrawn on three occasions.
The beneficiaries are Gweri Women Entrepreneurs Sacco, Gweri Boda Boda Operators Sacco and Gweri Taxi Savings and Credit Cooperative Society.
Mr James Peter Omiat, the chairperson of Gweri Women Entrepreneurs Sacco, told Daily Monitor on Monday that the group made the first withdrawal of Shs12.3 million without any challenges. But on July 12, Mr Omiat said when they went to make another transaction, they were told by bank staff that an extra Shs7.4 million had been withdrawn from their account. Mr Omiat said this prompted them to ask for the bank statement and video footage to ascertain the persons that withdrew the money.
He added that after reviewing the CCTV footage, the bank refunded the Shs7.4m to the Sacco account.
Mr Omiat said from the review of the video footage, it was discovered that the money had been withdrawn by one of the people who participated in training the beneficiary groups.
Mr Omiat explained that the suspect is neither a member of their Sacco nor a signatory to their account but that at one point, he participated in training the beneficiary groups together with the bank officials.
The Sacco chairperson said the suspect stole Shs4.1m the group entrusted him to deposit on their savings account.
Mr Lazarus Engeu, the chairperson of Boda Boda Operators Sacco, said Shs17.5 million was withdrawn from their account on July 4 without their knowledge.
He said the suspect could have connived with the bank staff and the district community officer to make the fraudulent transactions.
Mr Swaibu Yoweri, the treasurer of Boda Boda Operators Sacco, said on July 4, he received an SMS indicating that the money had been withdrawn from their account without his knowledge yet he is a signatory.
According to the Sacco members, the suspect used a forged scanned copy of the recommendation letter from the district commercial officer, which he presented to the bank before withdrawing the Shs7.4m.
The suspect also withdrew another Shs17.5 million, reportedly with the forged signatures of the Sacco treasurer.
The Emyooga policy states that before any group accesses money from the bank, they must present a recommendation letter from the district commercial officer, which is presented to the bank to enable the cash withdrawal. Asked whether she issued the recommendation letter to the suspect, Ms Joy Christine Apolot, the acting district commercial officer, referred us to the resident district commissioner, Mr Patrick Okumu, whom she claimed is the spokesperson for Emyooga programme.
In response, Mr Okumu acknowledged the fraud.
The RDC said preliminary investigations further indicate that the suspect withdrew another Shs28 million from the account of Gweri Taxi Operators Savings and Credit Cooperative Society after he reportedly informed the bank that the group had agreed to change signatories to their account.
Preliminary findings
“By records, a total of Shs53.8m was withdrawn on different days of July 14, July 15, July 17, July 21 and May 29,” Mr Okumu said.
He also confirmed that the bank management paid back Shs7.4 million to the Gweri Women Entrepreneurs Sacco account.
Mr Isaac Isanga, manager of Finance Trust Bank Soroti Branch, when contacted, denied any role in the fraud. He explained that the withdrawals were based on recommendation letters from the district commercial officer.
Mr Okumu said three general inquiry files into the loss of the money have been opened at Soroti Central Police Station.
The OC CID at the police station, Mr Charles Otekat, said they are currently recording statements from the complainants.
Background
Last week, Deputy Speaker of Parliament Anita Among suspended the House sittings for seven days starting Monday this week to allow legislators to investigate the implementation of Emyooga funds. This was after the parliamentary Covid-19 taskforce unearthed glaring discrepancies in the expenditure of the funds.
