Specioza Nassuna, 43, a former Cairo Bank credit official, and Robert Kisolo, a businessman, have been convicted by Buganda Road Chief Magistrate’s Court for conspiring to forge documents and obtain a Shs200 million loan from Cairo Bank.
Nassuna was found guilty by Chief Magistrate Ronald Kayizzi for smuggling a forged evaluation report into Kisolo’s loan application file.
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The forged documents included powers of attorney claimed to have been signed by Henry Ssemugooma Akalya-Amagwa, Clementina Babirye, and Catherine Namusoke, the lawful administrators of land comprised in block 109 plot 22 in Gwafu Seeta.
“A2 (accused two Nassuna) connived with Al (accused one Kisolo) to smuggle a forged evaluation report on Al’s file so that the bank can approve the loan,” Mr. Kayizzi ruled. “There is no other way the forged document presented to the bank could find its way to the file without the input of A2.”
The prosecution also presented 11 witnesses, including handwriting experts and the rightful landowners, to prove the three counts of forgery, obtaining credit by false pretense, and conspiracy to commit a felony.
The court also found that Wrok valuation consultants Limited, the purportedly contractors to value the property, denied signing the survey report, and on being examined by the police, it was found to be forged.
“Wrok valuation consultants limited who had allegedly been contracted to value the property were not opted to issue the survey report,” Mr. Kayizzi ruled.
“The evidence on record shows that it is them who allegedly contacted Uphill Landtech Services Limited to carry out a survey in land comprised in Kyagwe; that is why the survey report is addressed to Wrok Valuation Consultants Limited and not the bank.”
The court further noted that the survey report formed part of the valuation report, and without it, the valuers would not carry out a meaningful evaluation report.
“The evaluation report is the basis for the bank to approve a loan, and the evaluation report had to have a survey report,” Mr. Kayizzi ruled. “Therefore, whoever forged a survey report had an intention to defraud the bank, and this ingredient has been proved beyond reasonable doubt.”
Upon conviction, prosecution led by Ms. Joan Keko demanded a pound of flesh.
“We request a 10-year custodial sentence and a compensation order of Shs200 million,” Ms. Keko said. “This is because of the increasing trend of bank fraud nationwide, with 12,924 cases reported in 2023.”
Ms. Keko also emphasized the significant psychological and emotional distress inflicted on Ssemugooma and his siblings by the convicts. “The convicts’ actions have caused significant harm to the victims, and they must be held accountable,” Ms. Keko said.
The case was adjourned to February 12 for the lawyers of the convicted to respond to the state’s submissions and sentencing.
The convicts are facing three counts of forgery, obtaining credit by false pretense, and conspiracy to commit a felony.
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