Business

‘Don’t deposit your money in DTB Bank’, court warns

Terrorism-linked bank: Nasim Devji, DTB CEO.

Terrorism-linked bank DTB has been in the press recently for all the wrong reasons.

The bank which was sued by Ham Enterprises Uganda, and lost, has suffered another blow after a court warned clients against depositing money with the tainted bank.

Apart from the Ham vs DTB case where bank officials withdrew money from Ham’s accounts without consent, there were other complainants.

Another customer named Yiga Musa (suit no.254/2017) filed a suit against the bank in 2016 after the bank took advantage of him not understanding and reading the English language. The bank made him sign many documents, including mortgages deeds with an intention of creating an illegal mortgage and making him a debtor and defrauded him of UGX 3, 500,000, 000 (Sh103 million).

DTB TO CARRY ITS OWN CROSS AFTER BANK OF UGANDA EXITS THE HAM Vs DTB CASE.

General Charles Angina vs DTB Bank

Gen Charles Angina also filed a case (suit no. 76/2018) in court after the bank took advantage of his busy schedule and committed a series of frauds on his accounts which included transferring his properties to third parties on allegations that he had defaulted and he lost UGX 1,800,000,000 (Sh53 million).

It is in Gen Angina’s case that the court found fraud in the manner in which the bank conducted itself ver a mortgage advanced to the client; it also cautioned customers’ deposits at the bank.

Lt Gen Angina

“The fraud in their action is seen in their omissions to inform the Plaintiff of what the duo was doing. Their concealment of the transaction from the Plaintiff certainly amounted to a breach of a legal duty, trust and confidence. The transaction by the 10 and 2. Defendants was a willful act which sought to deprive the Plaintiff by illegal or to say the least inequitable means what he was entitled to”, Judge David Wangutusi observed.

While the Ham vs DTB case was ongoing. Many clients fleed from the bank after it was found guilty of fraud and ordered to pay UGX 130billion (Sh3.5 billion)

“Since this court has found that the mortgages and deeds of sale were illegal all the transactions based on those illegal documents including the sales and transfers were illegal, null and void” … “Taking all circumstances into account, I award UGX100,000,000/= (Sh2.9 million) against the 1st and 2nd Defendant’, the judge ruled.

Terrorism-linked DTB Bank CEO to testify over ‘100 billion’ illegal withdrawal’s case in Uganda

See the full judgement below:


Would you like to get published on this Popular Blog? You can now email Cyprian Nyakundi any breaking news, Exposes, story ideas, human interest articles or interesting videos on: hello@cnyakundi.com. Videos and pictures can be sent to +254 710 280 973 on WhatsApp, Signal and Telegram.

Comments

comments

 
Click to comment

You May Also Like

Entertainment

In the wake of her ex-husband Eddie Ndichu’s assault scandal, fresh details have emerged on the culmination of events that led to the death...

News

Mwenda Mbijiwe has been missing for 4 months now. Members of a University of Nairobi Class of 2015 WhatsApp group were shocked when he...

News

Shocking news reaching the cnyakundi.com newsdesk is that at least 2 people have died on the spot after a bomb explosion rocked a food...

News

Eddie Ndichu married media personality Janet Mbugua in a colourful wedding in 2015. Their marriage looked like a perfect one until recently when things...

Copyright © 2021 Cyprian Is Nyakundi.

Exit mobile version