Court orders client, valuer to pay UGX448m KCB Bank for fraudulent loan
KCB Bank branch at Forest Mall. The Bank wants a client and valuer to pay UGX448 million for a fraudulent loan transaction.
Court has ordered a businessman Joseph Sendagire and valuer Eddie Nsamba Gayiiya to jointly pay more than Shs448 million to KCB Bank Uganda Limited as recovery of loan fraudulently acquired and losses incurred.
Justice David Wangutusi of the Commercial Division of the High Court ordered Sendagire and Gayiiya to pay to the bank Shs398,201,669 as the loan sum and Shs50 million as general damages.
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