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).
https://nyakundireport.com/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.
See the full judgement below: View document