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4,458 Crane Bank Loan accounts duplicated-Katuntu

Parliament’s committee on commissions, statutory authorities and state enterprises (COSASE) has unearthed another fraud where 4,458 Crane Bank Loan Accounts were duplicated.

The committee chairperson, Abdul Katuntu, says that after srutising a list of Crane Bank loans tabled by BOU on a CD, they discovered that over 4458 loan accounts were duplicated, with several different borrowers sharing account numbers.

“One thing which we have noted with the auditors from the CD is that there was a lot of duplication of loans and advances which were transferred to DFCU. With this kind of duplication, it is very difficult for us to tell the exact picture of the loan portfolio. Why is it that BOU has never seen this?” Katuntu wondered.

Katuntu, though, did not give any details about the duplicated accounts. He said the auditirs were still reviewing the information.

In the meeting yesterday, the BOU team led by Mutebile did not respond to the issues raised by Katuntu.

Parliament is currently investigating circumstances under which BOU closed seven defunct banks which include Teefe Trust Bank Ltd, International Credit bank (1998), Green Land Bank (1999), Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and Crane Bank (2016).

Related:

COSASE Summons Price Water Coopers over Crane Bank Closure

Former Crane bank staff demand Shs 48bn from BoU

How Sudhir Frustrated talks with Bank of Uganda

BoU Bosses Probed Over Closure of Banks

Report faults Bank of Uganda on 7 Closed banks

DFCU Bank threaten to Sue Rajiv Ruparelia

Auditor General raid BoU as forensic audit starts

DFCU makes record 127b profit in 2 years

Crane Bank Curse catches DCFU

DFCU shareholders doubt $25 million on IT upgrading

Report on Crane bank leaks

Crane Bank Curse catches DCFU

The bad loans that crippled Crane Bank

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