Uganda, March 20 -- Five people among them employees of Equity Bank in Uganda have been remanded on accusations of money laundering regarding the disbursement of Shs62 billion of unsecured loans to unqualified persons.

The five suspects were Wednesday arraigned before the Anti-Corruption Magistrates Court presided over by Abert Asiimwe who read to them charges ranging from obtaining credit by false pretence, money laundering and conspiracy to defraud.

They include; the head of Agency Banking at Equity Bank Mr Julius Musiime, Ms Erina Nabisubi, a relationship manager for telecom, Mr Fred Semwogerere (Banker), Mr Tumuhimbise Cresent Tibarwesereka (relationship officer) and Wycliff Asiimwe a distribution and marketing consultant with a mic...