• Latest
Criminal court summons Agha Khan IV over theft and fraud at DTB

Criminal court summons Agha Khan IV over theft and fraud at DTB

September 15, 2021

Veteran political activist Ingrid Turinawe says she will honor PFF leadership as she picks expression forms for Rukungiri municipality MP seat

June 30, 2025
FDC Raises Concerns Over Academic Document Verification Directive

FDC Raises Concerns Over Academic Document Verification Directive

June 30, 2025
VINAStech Advert

Implications of Aiding or Abetting a Tax Offense In Uganda

June 30, 2025

Cryptocurrency And The Shadow Economy: Facilitators of Illicit Financial Flows In Uganda

June 30, 2025

DNA Results Reveal Only Four of Nine Children Were Fathered by Late Ssegirinya

June 30, 2025

NSPC Staff Cleans Usafi Market

June 29, 2025
Great Afrikan Radio Claire Chopper Dies at 52

Great Afrikan Radio Claire Chopper Dies at 52

June 29, 2025
Mother beheads 7-year-old daughter in Entebbe

Mother beheads 7-year-old daughter in Entebbe

June 28, 2025
Nkwene Withdraws From Ruhinda North Race, Backs Deputy Speaker Tayebwa

Bribe Allegations Baseless, Says Nkwene After Dropping Out of Ruhinda North Race

June 27, 2025

Fire Engulfs Late Ssemogerere’s Residence in Kabusu

June 27, 2025
EU forest partnership funds should also focus on restoring the degraded parts of Bugoma forest reserve

EU forest partnership funds should also focus on restoring the degraded parts of Bugoma forest reserve

June 27, 2025
PFF Denies Claims of Besigye’s Sole Candidacy

Over 100 pick PFF nomination forms

June 27, 2025
  • About Us
  • Internship
  • Contact Us
Tuesday, July 1, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    FDC Raises Concerns Over Academic Document Verification Directive

    FDC Raises Concerns Over Academic Document Verification Directive

    DNA Results Reveal Only Four of Nine Children Were Fathered by Late Ssegirinya

    NSPC Staff Cleans Usafi Market

    Mother beheads 7-year-old daughter in Entebbe

    Mother beheads 7-year-old daughter in Entebbe

    PFF Denies Claims of Besigye’s Sole Candidacy

    Over 100 pick PFF nomination forms

    CBS Journalist Jimmy Ssekabito Dies in Lubaga Hospital

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    FDC Raises Concerns Over Academic Document Verification Directive

    FDC Raises Concerns Over Academic Document Verification Directive

    DNA Results Reveal Only Four of Nine Children Were Fathered by Late Ssegirinya

    NSPC Staff Cleans Usafi Market

    Mother beheads 7-year-old daughter in Entebbe

    Mother beheads 7-year-old daughter in Entebbe

    PFF Denies Claims of Besigye’s Sole Candidacy

    Over 100 pick PFF nomination forms

    CBS Journalist Jimmy Ssekabito Dies in Lubaga Hospital

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
No Result
View All Result
Parrots Media
No Result
View All Result
Home RELIGION

Criminal court summons Agha Khan IV over theft and fraud at DTB

Gilbert Akampa Kakurugu by Gilbert Akampa Kakurugu
September 15, 2021
in RELIGION
0
Criminal court summons Agha Khan IV over theft and fraud at DTB
0
SHARES
1
VIEWS
Share on FacebookShare on X

By Leonard Kamugisha Akida,

PARROTS UG | BUSINESS REPORTS:

READ ALSO

Police Urge Vigilance Amid Ongoing Terror Threats

Journalists blocked from Martyrs Day Venue

The criminal court in Uganda has issed summons to Prince Shah Karim Al-Husayn alias Agha Khan IV, the founder and chairman of the Aga Khan Fund for Economic Development, owning Diamond Trust Bank Group, to answer criminal charges against him.

According to a criminal summons document issued by the court which Parrots UG has seen, the one time darling tp president Museveni, Prince  Shah Karim Hussain – the Agha Khan IV and three others are accused of doing criminal acts of theft, electronic fraud, making false entries in financial ledgers, computer misuse, uttering false documents and conspiracy to commit felony.

Other accused staff are; Nassim Mohamed Devji, The Group C.E.O & M.D DTB Africa, Varghese Thambi, the C.E.O DTB Uganda and John Sitakange, the Head Of Credit DTB Uganda.

This is the second time Diamond Trust Bank Top Management is being Summoned, in May 2021, the M.D was summoned by the Financial Intelligence for Money Laundering Related investigations.

This arises from the illegal and dubious debit transactions from Tycoon Hamis Kiggundu and Ham Enterprises U Ltd.’s bank accounts over a spread period of 10 years.

The prosecution (Government of Uganda) allege that the four committed crimes of; theft contrary to section 254 of the Penal Code Act Cap 120, making false entries in financial ledgers contrary to section 47 (1) and (3) of the financial Institutions Act of 2004.

President Museveni decorates Prince Shah Karin Al Hussain Agha Khan IV with a Grand Master Medal at Uganda’s 55th independence celebrations in Bushenyi district.

They are also accused of electronic fraud contrary to section 19 of the computer misuse Act, uttering false documents contrary to section 351 of the Penal Code Act 120 and conspiracy to commit a felony contrary to section 360 of Penal Code Act 120.

Court has since summoned the four to appear before Buganda Road Magistrate’s court on 28 September,2021, to take plea on charges against them.

ADVERTISEMENT

Background of rows at DTB.

In March last year, Ham dragged both banks to court for dubiously debiting over Shs 120 billion from his accounts without his consent. The Bank acknowledged not having an operational license permitting to operate in Uganda as required by law on Court records and in a landmark Judgement of 7th October 2021 The High Court convicted Diamond Trust Bank Uganda and Kenya for Violating the Financial Institutions Acts of Both Uganda and Kenya and also Violating the Banking regulations among other illegalities committed.

In an affidavit swore by Hamis to Kiggundu, the proprietor of Ham Enterprises, top bank managers superintendent illegally and unlawfully transacted Shs 34,295,951,553 and $23,467,670 from his bank accounts.

“The above persons who are the directing mind of the bank had knowledge of illegal transactions and they bear criminal liability for the approval and concurrence in committing the deception and fraud on the complainant’s accounts,” reads in part of the affidavit.

Kiggundu in his affidavit swore that the four do not meet the criteria and they are not fit and proper persons to own, control and manage a bank or any other financial institutions in accordance with the 3rd schedule of the Financial Institutions Act, 2004.

The High Court ordered DTB to immediately pay the bank the over Ugx. 120 billion that it had illegally debited with an annual interest rate of 8%. which is the implementing authority under the Financial Authorities Act 2 of 2004 as amended to take such necessary actions and measures to ensure that the provisions of the law is implemented in accordance with the intention of the law such as to protect the Ugandan economy from illegal hemorrhages and uncontrolled flows of financial resources and to ensure that financial institutional business in Uganda is operated within the letter of the law to protect the nascent banking business industry in Uganda.

Diamond Trust Bank appealed and on 5th May 2021, the appellant judges left the bank with an illegality burden which has since escalated into theft and fraud charges.

By the time of compiling this report, neither DTB management nor their lawyers had issued official communication responding to the summons.

Tags: DTB GroupDTB UgandaGoU sues DTB over theft and fraudHamis KiggunduHamThe Agha Khan IVPrince Shah Karin Hussain

Related Posts

Police Urge Vigilance Amid Ongoing Terror Threats
RELIGION

Police Urge Vigilance Amid Ongoing Terror Threats

June 6, 2025
Journalists blocked from Martyrs Day Venue
RELIGION

Journalists blocked from Martyrs Day Venue

June 3, 2025
News

Malawian, Tanzanian Students Jet In for Uganda Martyrs Essay Awards

June 2, 2025
Religion

UPC Urges Reflection and Reform Ahead of Uganda Martyrs Day

May 28, 2025
News

Kasujja Warns Against Secularism as UMU Trains Chaplains to Tackle Youth Crisis

May 26, 2025
Uganda Martyrs Essay Competition Expands Across East Africa
RELIGION

Uganda Martyrs Essay Competition Expands Across East Africa

May 23, 2025
Next Post

Makerere University announces date for Law Pre-Entry exams

POPULAR NEWS

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

February 16, 2025

Former IGP Okoth Ogola Dies

February 14, 2025

A Love Beyond Distance: A review of Leonard Kamugisha Akida’s poetic tribute on valentine’s day

February 14, 2025

Besigye Sends Easter Message from Luzira Prison as Archbishop Kazimba Urges for Release of Political Prisoners

April 18, 2025
Brutality at KIU: Students Assaulted by Officials at Examination Hall

KIU Loses Bid to Block Payment of Shillings 46.8 Billion to Housing Finance Bank

March 12, 2025

EDITOR'S PICK

Witness discloses how Prime Minister Netanyahu silenced media with lucrative befits from covering his corruption evils

November 22, 2021
Assoc Prof Anguma appointed new Muni University Vice Chancellor

Muni University Vice Chancellor, Prof Christine Dranzoa dead

June 28, 2022
I saw this coming, MP Ssemujju responds to sacking reports

I saw this coming, MP Ssemujju responds to sacking reports

August 8, 2023
Kabushenga shakes Great Lakes University in testicles

Kabushenga shakes Great Lakes University in testicles

November 3, 2021
VINAStech advert VINAStech advert VINAStech advert
ADVERTISEMENT

About

Parrots Media

A Public Relations and Media Services Company registered and licensed to operate in Uganda and the Great Lakes Region.

Follow us

Categories

  • Business
  • BUSINESS REPORTS
  • CLIMATE ACTION REPORTS
  • Climate Change
  • COMMUNITY REPORTS
  • Education
  • Entertainment
  • FEATURES
  • Health
  • Lifestyle
  • News
  • News
  • Obituary
  • OBITUARY
  • Opinions
  • Religion
  • RELIGION
  • Science and Technology
  • Sports
  • Sports and Entertainment
  • TOURISM

Recent Updates

  • Veteran political activist Ingrid Turinawe says she will honor PFF leadership as she picks expression forms for Rukungiri municipality MP seat
  • FDC Raises Concerns Over Academic Document Verification Directive
  • Implications of Aiding or Abetting a Tax Offense In Uganda
  • Cryptocurrency And The Shadow Economy: Facilitators of Illicit Financial Flows In Uganda
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    
  • About Us
  • Internship
  • Contact Us

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

No Result
View All Result
  • Parrots Media
  • News
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Lifestyle
  • Others
    • Climate Change
    • Education
    • Religion
    • Opinions

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

You cannot copy content of this page