The anti-corruption court has remanded five employees of Equity Bank-Uganda to Luzira Prison over fraud worth UGX 62 billion.

The suspects were identified as Julius Musiime, the Head of Agency Banking and a resident of Namugongo in Kira Division; Erina Nabisubi, the relations manager at the bank; Fred Ssemwogerere, a banker; Crescent Tumuhimbise, a relations officer; and Wycliff Asiimwe, a distribution and marketing consultant.

Asiimwe Ebert, the grade one magistrate who presided over their case, charged them with obtaining credit through false pretenses and money laundering.

It is alleged that the suspects are part of a group that is responsible for debiting money from customers accounts without their consent.

At the beginning of March 2024, Equity Bank Uganda started investigating its staff for possible loan fraud and fraudulent activities involving its stock loan and agent float financing.