Home » Breaking News, Business » 10 Stanbic Bank Officials in it over Pensioners’ Money

By Martha Nakimuli

Ten  senior Stanbic officials are facing the wrath of police over  fraud of over sh600m of pension funds .

The suspects in the scam  include ; Pascal Epodoi; William Embati; Robert Muhooza and other two officials, only identified as Hilah and Nalumansi among other officials still at large.

Police spokesperson ,Judith Nabakooba told the press on Wednesday that these officials from Stanbic Bank  used retired and deceased pensioner’s passport photographs, attached to them  bank documents  and opened  Bank accounts to to receive money under their personalities .

“As soon as the deceaseds’ accounts would be credited the monies were withdrawn immediately,” Judith Nabakooba the Police spokesperson said.

The suspects  who include  managers, supervisors and tellers were  dragged  from the Hoima, Mpigi, Kikuubo (Kampala) branches and a corporate bank branch in the city.They are still  in police custody.

Those so far arrested have recorded statements at the Special Investigations Unit (SIU)  in Kireka and have been charged with conspiracy to defraud and causing financial loss.