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Kampala — In one of the most bizarre and daring bank frauds in recent years, a 45-year-old boda-boda rider has been charged for allegedly siphoning over Shs332 million from a Centenary Bank account — using a web of fake names, forged IDs, and insider-style tricks.
The suspect, identified as George Byaruhanga a.k.a. Ronald Kintu a.k.a. Rogers Ainembabazi, appeared before Buganda Road Chief Magistrate Ronald Kayizzi today – Thursday and was remanded to Luzira Prison pending trial.
According to prosecutors led by Grace Amy, Byaruhanga — a resident of Wamala, Nansana Municipality — masterminded an electronic heist straight out of a Hollywood script, moving Shs332,207,777 from Centenary Bank Account No. 3200153458 (belonging to a real customer, Ronald Kintu) to an Exim Bank account in the name Rogers Ainembabazi.
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How the Scam Worked
Investigators say Byaruhanga forged national IDs, enrolled fake biometric data at Centenary Bank’s Mapeera Branch, and convinced staff he was the genuine account holder.
Once he gained full access, he allegedly:
Withdrew Shs50 million over the counter,
Transferred Shs250 million to an Exim Bank account,
Cashed out the balance — Shs32 million — via ATM and agent banking platforms.
Sources close to the case whisper that insider cooperation within the banking system cannot be ruled out, given the precision with which the fraud was executed.
“This wasn’t just luck — someone must have guided him. You don’t walk into Mapeera Branch and update biometrics without help from inside,” a security source told Red Pepper under condition of anonymity.
Further investigations reveal that Byaruhanga also forged a second national ID in November 2024 — this time under NIN: CM920091041PID — to formalize the Exim Bank transactions.
When the suspicious transfers triggered Centenary Bank’s fraud alerts, the matter was immediately reported to police, leading to the suspect’s arrest after a brief manhunt.
In court, the accused pleaded not guilty to six counts of electronic fraud, impersonation, forgery, and uttering false documents under the Computer Misuse Act and Penal Code Act.
He told the magistrate he had sureties but needed more time to present them since “he was brought to court unexpectedly.”
Magistrate Kayizzi granted his request and remanded him to Luzira Prison until November 12, 2025, as investigations continue.
If found guilty, the boda man–turned–cyber con could face a long jail sentence, as authorities tighten their grip on a wave of electronic banking fraud sweeping across Kampala.
Stay tuned — Red Pepper is digging deeper into the alleged bank-insider connection behind the Shs332 million goldmine heist.
THUGS ATTEMPT TO STEAL ENID KUKUNDA’S BILLIONS
Centenary bank is not alone. Four individuals, including a Rwandan national, were early this month remanded to Luzira Prison by the Kampala Capital City Authority (KCCA) City Hall Magistrates Court on charges of attempting to fraudulently withdraw 725 million Shillings from a Stanbic Bank account belonging to Enid Kukunda.
It goes without mention that Enid Kukunda, the alleged victim in this case, is the same lady who was recently mentioned in media reports among individuals accused of obtaining illegal loans from the Microfinance Support Centre.
Public records indicate that Kukunda reportedly obtained 2.5 billion Shillings in loans without approval. This prompted Finance Minister Matia Kasaija to halt the lending scheme & directed MSC to lend only to SMEs and SACCOs.
It remains unclear whether this controversy is related to the ongoing fraud case.
BACK TO THE FRAUD
The suspects, Joel Mucunguzi, a driver and resident of Kitoro, Kiwafu Road in Entebbe; Mbabazi Elizabeth, a Rwandan businesswoman residing in Buddo, Kyengera Town Council; Faridah Kobusingye, a resident of Masanafu, Lugala Road in Kampala District; and Flower Njawuzi, also known as Florence Mega Kanywani, a businesswoman from Buddo, Nsangi Sub-county in Wakiso District, appeared on Monday before Senior Principal Grade One Magistrate Nicholas Aisu.
They face multiple charges under the Penal Code Act, including forgery, uttering false documents, personation, conspiracy to defraud, and attempted theft.
According to the prosecution led by State Attorney Mercy Yamangusho, the accused, together with others still at large, orchestrated a sophisticated scheme targeting Kukunda’s account at Stanbic Bank’s Acacia Mall branch in Kampala.
Prosecution records show that on October 3, 2025, the group allegedly forged a Ugandan National Identity Card in the name of Enid Kukunda, complete with National Identification Number CF690801029W6F and card number 010400773. The forged ID was purportedly used to falsely claim ownership of Kukunda’s bank account, number 9030017562788, with the intention of withdrawing a sum of 725 million Shillings.
It is alleged that Mbabazi, posing as the account holder, presented the forged ID and a falsified withdrawal slip bearing a forged signature of Kukunda. However, the transaction raised suspicion among bank officials, who promptly flagged the irregularities and alerted authorities, leading to the suspects’ arrest.
Investigations suggest the gang may have received inside help from Stanbic staff to access the client’s account information but somehow messed up the execution.
The prosecution contends that the documents were knowingly and fraudulently presented as genuine, with the deliberate intention to defraud both the bank and the rightful account owner.
Investigations further revealed that the group had conspired as early as October 1, 2025, to execute the fraudulent operation. Court documents also list additional accomplices as Sarah Nankumba and Emiriat Emmanuel, who are still at large and believed to have participated in preparing the forged documents. All four suspects have pleaded not guilty to the charges.
State Attorney Yamangusho informed the court that investigations are ongoing and that security agencies are pursuing other members of the suspected fraud syndicate. She requested that the accused be remanded pending further inquiries.
