Centenary bank manager jailed for stealing sh500m

Grace Adakun was Tuesday convicted by the Anti – Corruption Court of counts of embezzlement and causing financial loss to Centenary bank.

“No  amount  of argument  can change  the evidence  that the accused  solely  carried  out the transaction and no other person  used  her password  to deposit  seventy-one transactions  and made withdrawals via ATM,”  Justice Margaret Tibulya said.

Justice  Tibulya said  prosecution  has adduced credible evidence  to prove that Adakun  carried  fraudulent transactions several times and transferred funds to her children’s and other  relatives’ accounts.

The court relied on the auditor’s report, her charge and caution statement where Adakun confessed having deposited different fraudulent transactions and the evidence retrieved by IT expert.

State Attorney Tom Walugembe from Directorate of Public Prosecution (DPP) asked court to impose a sentence of seven years imprisonment in addition to refunding sh540m to the bank.

Under the Anti- Corruption Act, the offence of embezzlement carries a maximum sentence of 14 years imprisonment. While causing financial loss attracts 7-year imprisonment.

Walugembe said the amount of money involved is colossal and court should take into consideration the impact on the bank.

“The offences of corruption cases are on the rise particularly   cases where bank employees steal from the bank is on the increase. It is the duty of this court to stop such act by imposing stiff sentence,” Walugembe said.

Adakun in her defence denied the claims saying the police coerced her into accepting what she did not do.

She said the police during investigation covered up more serious abuses of her rights by forcing to accept the offences.

Prosecution said Adakun who was in charge of banking department as assistant manager Soroti branch between September 2008 and 2009 fraudulently transferred money through different accounts.

Adakun’s lawyer Martin Musamali asked court to be lenient on grounds that she is of advanced age and that she has high blood pressure. Justice Tibulya said she will pass the sentence on March 16.


Comments are closed.