Two Loan Officers Jailed for Theft

1885 Views Kiboga, Uganda
Two loan officers working for BRAC Uganda Limited have been found guilty of stealing more than 2.6 million shillings from the loan funds invested by the company. The suspects- Judith Mbabazi and Sylvia Nabyake, all local residents of Luwunga A village Kirurumba ward Kiboga town council, appeared before Kiboga court grade one magistrates court this morning. Prosecutuion told court presided over by Mastullah Mulondo, the grade one magistrate that the two allegedly stole a motorcycle Bajaj Boxer Reg No_UDM 756 valued at 2,650,000 shillings property of Naiga Margaret. The two allegedly grabbed the motorcycle claiming that it was security for the unpaid loan that was borrowed from Brac by Fred Serute (Now Deceased), husband to Naiga. The duo allegedly committed the offence on January 21st 2011. they allegedly went ahead and sold the motorcycle to Justine Kijambu at 900,000Shillings. Appearing before the magistrate the duo denied the charges claiming that they act with in the legal framework of the financial institution. The magistrate then remanded them to Kiboga government prison until 13th March 2011 pending investigations into the matter.


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