Two weeks ago, two prominent customers of Cairo Bank in Kampala were dismayed to learn of missing funds from their accounts.
They discovered that their money had been withdrawn but shockingly, the bank was unaware of the transaction.
A deep probe into the stealth transaction revealed that the accounts were drained through a well-orchestrated cyber heist in which the funds were clandestinely transferred to a different account and later withdrawn.
This website has since established that the two separate accounts belonged to Mike Kitamirike a city businessman and Dr Kassem Aboud a renowned surgeon working with UPDF.
Investigations reveal, Mr Kitamirike lost shs 500 million while shs 1.3 billion (330000 Euros) was removed from Dr Kassem’s account.
Immediately after learning of the missing funds from his account, Dr Kassem instructed his lawyers Muwema and Co. Advocates to pursue the matter with the bank and recover his money.
“I have been banking with Cairo Bank for some time, believing my money was safe. But when I recently tried to withdraw some funds, I was met with disbelief when I saw my account balance. It was a fraction of what it should have been.” Kitamirike his lawyers.
“Our client is a Ugandan citizen and Consultant surgeon of great repute and a holder of account No. 1**********7 with your bank. On the 9th of August 2023, our client visited your branch at Garden City to transact on his account, only to realize that his money amounting to about Euros 330,000 [Three Hundred and Thirty Euros Only] was fraudulently removed without his consent. The fraudulent removal of the said sums from our client’s account without his consent is criminal in nature on your part and illustrates connivance by the bank officials with the fraudsters,” reads the lawyer’s’ letter to Cairo Bank.
The Bank CEO Ahmed Maher has since gone for a sabbatical out of Uganda to ease on the pressure as investigators from various security agencies have pitched camp at the Kampala Road based financial institution determined to establish how the heist was executed.
Speaking to an online news outlet The Investigator, the Bank’s spokesperson Christine Birungi acknowledged the fraud:
“We deeply regret the distress that this incident has caused to our valued clients. As you have witnessed, police are helping in the investigations.”
The bank’s Chief Auditor, Julius Ssekabira also said:
“We are fully cooperating with the authorities and have initiated an internal investigation to identify the root causes of these discrepancies. Our utmost priority is to rectify the situation and restore our clients’ trust and money.”
Fred Kayitare
The businessman whose source of income remained a mystery was arrested last week, spent a few days in CMI detention at Mbuya Hill in Kampala before he was pronounced dead on Saturday evening.
His death according to CMI resulted from his attempt to jump and flee the security installation.
According to sources, Mr Kayitare a Rwandan national was arrested on allegations of leading a heist on Cairo Bank where money was removed from dormant accounts.
Sources first reported that the money at the center of investigations totaled to shs 2 billion, later the amount was increased to $1million.
But now with records from owners of the accounts, this website confirms that amount stolen stands at shs 1.8 billion.
Sources revealed that the heist was partly an inside job as the bank manager who remains at large closely worked with the deceased along with another unidentified telecom engineer whose job was to divert notifications (OTP) so that the clients whose account was drained of funds couldn’t receive alerts that a transaction in his absence had taken place.
Read>>> https://trumpetnews.co.ug/the-dark-secrets-of-dead-rwandan-fugitive-fred-kayitare
Also read>>> https://trumpetnews.co.ug/exclusive-details-fred-kamaliza-a-rwandan-died-fleeing-cmi-detention-using-bedsheet
The body of Fred Kayitare will be repatriated to Rwanda for burial slated for Sunday.
