• October 27, 2020
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Ham, DTB Fraud Case: Court Of Appeal Announces Date For Ruling

Ham, DTB Fraud Case: Court Of Appeal Announces Date For Ruling

The long-standing financial battle between DTB, Ham is near final judgement after the high court commercial division Justice Flavia Zeija has set the 2nd of November 2020 to rule on an appeal filed by DTB bank challenging Judge Adonyo’s ruling that had stopped a syndicated loan amounting to 39.7 billion that Ham had allegedly acquired from the bank.


Yesterday, lawyers representing Businessman Hamis Kiggundu led by Fred Muwema asked the court to dismiss the said appeal with costs on grounds that it is incompetent in law and misconceived.


Muwema stated that the high court did not commit any error while dismissing the said loan since DTB broke the rules that govern the banking industry.

Ham, DTB Fraud Case: Court Of Appeal Announces Date For Ruling

Counsel added that DTB should repent and return back the fetched money from mogul Ham’s accounts since they unlawfully acquired it thus losing the first case.


On thereother hand, DTB bank lawyer Kiryowa Kiwanuka has asked the court to stay the execution of the commercial high division court judge Henry Peter Adonyo ruling until the final determination of the said appeal.

Kiryowa noted that that the said ruling that was handed in the 7th of October 2020 was full of many irregularities including ordering that the bank returned Kigundu’s land titles after winning the case and over 120bn shillings that DTB had taken from his accounts.


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However, Kiggundu revealed that this was a financial fraud since the money was fraudulently withdrawn from both his dollar and shilling accounts were in excess of what the bank was demanding.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.

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