Equity Bank’s manager in charge of financial crime investigations, Charles Ado Okello, is scheduled to appear before the police today in connection with a Shs38.9bn gold scam fraud investigation.
Canadian businessman Clifford M. Potter claims he was defrauded by Stephen Bairukanga, who operated under the guise of an official with SMC Global Logistics.
Potter alleges that he made payments through accounts at two local banks, including Equity Bank, and accuses these banks of facilitating Bairukanga’s fraudulent activities from 2016 to 2019.
In response to police summons on July 5, Equity Bank’s legal department confirmed their full cooperation with the ongoing investigation. They stated that Mr. Okello would be available to provide necessary details regarding the allegations.
Documents seen by this publication indicate that Mr. Potter lost $986,115 (Shs3.6bn) between 2016 and 2019 through transactions facilitated by the bank.
Additionally, from 2019 to 2022, he lost another $670,123 (Shs2.5bn), which he attributes to the bank’s dishonest assistance in allowing Mr. Bairukanga to withdraw cash instantly.
The police have requested the bank to identify an officer who can explain these allegations and report to the Kampala Metropolitan Police headquarters. Mr. Potter is demanding compensation for his losses, along with 10 percent interest.
