By Spy Uganda
Kampala: Matters of Diamond Trust Bank Kenya and Uganda versus Kampala city tycoon Hamis Kiggundu aka Ham have escalated after court summoning some of the top bank officials.
READ ALSO: Hasabubwenje: Comprehensive Opinion On Ham, DTB Multibillion Fraud Case In Ugandan Courts
Criminal summons have been issued against tycoon Prince Karim Al-Husayn Shah, the Founder and Chairman of the Aga Khan Fund for Economic Development on a couple of accusations among them including theft.
Prince Karim, 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 on top of theft are accused of; making false entries in financial ledgers, electronic fraud, uttering false documents and conspiracy to commit a felony.
READ ALSO: Hasabubwenje: Comprehensive Opinion On Ham, DTB Multibillion Fraud Case In Ugandan Courts
Court summons against the group witnessed by TheSpy Uganda state thus; ”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 Code Act Cap 120.”
As a result therefore, the group has been ordered on 28th September 2021 to appear before Buganda Road Magistrate’s court to take a plea on charges on the above charges.
READ ALSO: Ham, DTB Feud: Court Of Appeal Announces Date For Ruling In Multibillion Fraud Case
Background Of The Case
Diamond Trust Bank (Uganda) and Diamond Trust Bank (Kenya) argued that Kiggundu received a credit facility totalling over shs41b a few years ago and he still owes them about shs39b. In turn, Kiggundu accused the banks of fraudulently siphoning over shs200b from his accounts without his knowledge and consent over the past 10 years.
The banks add that as of January 21, 2020, Kiggundu was in default on payment obligations of $6.298m on the loan facility of $6.663m, as well as sh2.885b on the demand overdraft facility of sh1.5b and the temporary demand overdraft facility of sh1b.
They further claim that Kiggundu was in default on the payment of another $3.662m out of a total loan facility of $4m and another $458,604 on a loan facility of $500,000, as of January 21, 2020.
However, Kiggundu revealed that this was a financial fraud since the money was fraudulently withdrawn from both his dollar and shilling accounts were in excess of what the bank was demanding. “They said they had carried out an audit of my bank accounts and discovered that the money was siphoned off over a period of 10 years,” Kiggundu said.
He highlighted that a total of sh29.035b was unlawfully debited from his shilling account, while $22.93m was withdrawn from his dollar account under what he calls unclear debits. Kiggundu, who has been accessing loan facilities from the bank for over 10 years, issued a notice to the bank terminating his relationship and withdrawing the mortgage instruments.
