Four Remanded Over Attempted Shs725 Million Fraud at Stanbic Bank

Four suspects accused of attempting to fraudulently withdraw more than Shs725 million from a bank account have been further remanded by the Buganda Road Chief Magistrate’s Court.

The accused are alleged to have attempted to access funds from an account belonging to Enid Kukunda held at Stanbic Bank Uganda.

According to the prosecution, the incident occurred on October 3, 2025, when the suspects reportedly attempted to withdraw Shs725 million from the account using documents suspected to have been forged.

Court heard that the accused allegedly presented identification and bank withdrawal documents purporting to belong to the account holder in an attempt to convince bank officials to release the funds.

However, the alleged scheme was foiled after bank officials reportedly detected irregularities in the documents presented during the transaction process.

The suspicious activity prompted further verification procedures, which raised concerns about the authenticity of the documents and the identity of the individuals attempting the withdrawal.

Bank staff subsequently alerted relevant authorities, leading to the arrest of the suspects before the transaction could be completed.

During the latest court session, prosecutors informed the court that the state was ready to present a plea bargain agreement involving one of the accused persons who had reportedly admitted to participating in the attempted fraud.

A plea bargain is a legal arrangement in which an accused person agrees to admit guilt in exchange for a potentially reduced sentence or other considerations by the court.

Despite the prosecution’s readiness to proceed with the plea bargain, the court did not hear the matter during the session.

The magistrate instead adjourned the case to allow further proceedings to be organised.

The four accused persons were consequently remanded as they await the next court appearance scheduled for March 19, when the matter is expected to return for mention or further hearing.