KAMPALA -The Office of the Director of Public Prosecutions (ODPP) has secured convictions and sentences for Kisolo Robert, a Businessman and Nasuuna Specioza, a Credit Officer at Cairo International Bank, for forgery and financial fraud. Kisolo Robert and Nasuuna Specioza were on February 19, 2025 sentenced to prison, following their convictions on charges including forgery, obtaining credit by false pretences, and conspiracy to commit a felony.
The sentences were delivered by Chief Magistrate Ronald Kayizzi at Buganda Road Court, demonstrating the importance of combating financial fraud in the banking sector.
The charges against Kisolo and Nasuuna stemmed from their involvement in a sophisticated fraudulent scheme that occurred in 2016.
They were accused of forging a series of critical documents used to obtain a fraudulent loan from Cairo International Bank. Among the forged documents were a power of attorney, a property valuation report, and a survey report, all related to a property located in Block 109, Plot 22, Gwafu, Seeta, Mukono District.
The forged power of attorney, allegedly signed by Ssemugooma Henry, Babirye Clementina, and Namusoke Catherine, falsely authorized Kisolo to act on behalf of the property owners. Alongside this document, the accused persons also fabricated a property valuation report and a survey report, which were crucial in securing a loan of 200,000,000/= from the bank, using the misrepresented property as collateral.
The prosecution, led by Chief State Attorney Keko Joan and Senior State Attorney Ivan Kyazze, presented a robust case, demonstrating the accused persons’ involvement in the fraudulent activities. Expert analysis of the forged documents, coupled with testimonies from key witnesses, clearly established the scope of the fraud perpetrated by Kisolo and Nasuuna.
Kisolo was convicted on all five counts, including forgery of the power of attorney, the forged valuation and survey reports, obtaining credit by false pretenses and conspiracy to defraud the bank. Nasuuna, while convicted on all charges except for the first count of forging the power of attorney, was found to have played an instrumental role in facilitating the fraudulent loan at Cairo International Bank.
In his judgment, Chief Magistrate Kayizzi sentenced Kisolo Robert to four years in prison for forging the power of attorney. Both Kisolo and Nasuuna were sentenced to two years for each of the subsequent offences, with the sentences to run concurrently.
Furthermore, the court ordered both convicts to each pay Cairo International Bank 100,000,000/= in compensation for the financial loss incurred as a result of the fraudulent activities.
The successful prosecution of this case resulted from the diligent work of Ms. Keko Joan and Mr. Ivan Kyazze, who meticulously presented a compelling case based on the evidence gathered by the Uganda Police team of investigators. Their efforts were instrumental in securing convictions and highlighting the need for greater vigilance in financial institutions to prevent similar fraudulent activities in the future.
This case serves as a critical reminder of the growing risks associated with financial fraud, particularly in the banking sector. It sends a clear message that individuals who engage in fraudulent activities, especially those involving financial institutions, will face significant legal consequences. The court’s decision to award compensation to the bank demonstrates the importance of protecting financial institutions from fraud and ensuring that those responsible are held accountable.
The case also highlights the need for continued transparency and integrity improvements in business and banking practices. Strengthening safeguards and implementing rigorous checks and balances within the financial sector are essential steps in preventing such frauds and maintaining public trust.
The sentences handed down to Kisolo Robert and Nasuuna Specioza represent a decisive step toward ensuring accountability for financial crimes in the country.
The case serves as an important precedent, emphasizing the need for strict adherence to legal and ethical standards in both business and banking. It also reinforces the ongoing commitment to justice and the protection of financial systems from fraudulent activities. The legal outcome reflects the dedication of the prosecution and the judicial systems in addressing white-collar crimes and safeguarding public and financial interests.
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