Nairobi, April 12 -- Ugandan police have arrested Equity Bank Uganda's former executive director for Commercial Banking Mr Kenneth Onyango to assist with ongoing investigations into alleged stock loan and agent float financing fraud.

Sources told the Daily Monitor late Thursday that Onyango was taken into custody on orders from Directorate of Public Prosecutions (DPP).

"He is being investigated in line with that case [fraud]. It's true he is in police custody. DPP will guide on next course of action," the source said, preferring not to be named due to sensitivity of the matter.

Images of a hand cuffed Onyango, who reportedly resigned last month, were shared on various social media platforms last evening.

Equity Bank management had rep...