BUSINESS
The State House Anti-Corruption Unit (SHACU) has submitted a long-awaited case file to the Office of the Director of Public Prosecutions (ODPP) for prosecution in connection with a fake gold deal scandal that cost an American businessman, Robert Turner over USD 840,000.
The probe points to Maxim Advocates, a prominent law firm in Kampala founded by Sheila Namahe Wagidoso, daughter of former Ambassador to China, Charles Madibo Wagidoso. Authorities allege that the firm played a central role in the fraudulent operation, alongside Stanbic Bank Uganda, where the illicit funds were reportedly channeled.
The case also implicates a Somali refugee businessman, believed to be operating a multi-billion-dollar Hawala money transfer network in Kampala, in facilitating the illegal transactions.
Investigators have flagged serious irregularities at Stanbic Bank, with insider involvement under active scrutiny. Rachael Tamale, a staff member at the bank, has been singled out for allegedly bypassing internal procedures, enabling the suspicious transfers to move swiftly through the system.
Turner recently expressed dissatisfaction with the judiciary in the manner over which this matter was being handled, prompting the ODPP interventions. The investigation is ongoing to determine whether Stanbic Bank as an institution bears responsibility or whether individual employees acted independently for personal gain.
The ODPP is now expected to review the findings and decide on formal charges in one of the most high-profile financial fraud cases to surface this year.
