Home News Kenyan Banker Samuel Kirubi Emroiled In Multibillion Equity Bank Scandal

Kenyan Banker Samuel Kirubi Emroiled In Multibillion Equity Bank Scandal

A Kenyan banker has been dragged into a UGX65 billion (Approx KES 2.2 billion) Equity Bank heist in Uganda.

by Dave
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Barely days after Kenya’s Equity bank reportedly lost over kshs 179 million to hackers via an incident that left customers counting losses, latest reports have also indicated that another bank in Uganda is caught up in a similar situation that has seen approximately kshs 2.2 billion get lost mysteriously.

According to the report by a local Publiccation, the Ugandan police have Already summoned one and only Samuel Kirubi (a Kenyan) who is the prime suspect in the scandal that has left many shocked.

Samuel Kirubi during a past event

Samuel Kirubi during a past event

It is reported that Samuel Kirubi who works at the Ugandan bank successfully managed to siphon money via false pretense, money laundering among many others.

Also, The police announced that they’re conducting forensic investigations into the fraud and that they are trailing several suspects, including those who resigned, after the massive fraud was detected. The Former Executive Director in Charge of Commercial Banking, Onyango Kenneth, who had just resigned was arrested.

Mr Kirubi after being arrested by Ugandan police

Mr Kirubi after being arrested by Ugandan police

The saga, which began with the abrupt departure of Kenyan Samuel Kirubi, former CEO of Equity Bank Uganda, in 2022, has now ensnared key figures within the organization. Kirubi, who was ordered to leave office amid mounting suspicions, has since been summoned back to Uganda by Equity Group CEO James Mwangi to confront the fallout of his alleged mismanagement.

Sources within the bank reveal a trail of irregularities dating back to Kirubi’s tenure, prompting a thorough examination of financial records spanning several years.

Back to Kenya, the Equity Bank is said to have managed to trace the money that had been illegally withdrawn by hackers and, accounts of the side hackers have been frozen in an attempt to revert the money back to the customers who had their accounts swept away.

It is emerging that the Kenya’s bank involved elite from the DCI unit that deals with banking fraud as well as its cyber security gurus with an aim of sealing loopholes that were used by the hackers.

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