Michael J Ssali
22 October 2007
Masaka — The police in Masaka District have closed all the branches of Support Finance Uganda Savings and Credit Co-operative Society over allegations of fraud.
Addressing journalists at his office on Friday, the Southern Regional Police Commander, Mr Andrew Sorowen, said the microfinance institution's branches have been closed and some of its staff arrested, following several complaints from clients about the shoddy manner in which they have been conducting business.
"The complainants told the police that whenever they went to the financial institution to withdraw money or seek loans, they were told that the money was in Kampala," he said.
Those arrested included Mr Gerald Kizito, and Mr Enoch Tumwine, all branch managers and Mr Francis Kakye, an auditor.
The arrests were reportedly made as Mr Kakye addressed clients in an attempt to cool their tempers. The institution had branches in Kinoni, Kyazanga, Mbiriizi, Nyendo, Bukunda and Lukaya trading centres.
The bank opened in August. Over 400 residents are said to have opened up accounts.
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