The police were by yesterday putting final touches to their investigation into the pension scheme scam in the ministry of public service, before sending their findings to the Director of Public Prosecutions for sanctioning.
According to a source, the police have lined up several charges against the accused including theft, forgery, embezzlement and uttering false documents. The development comes in the wake of a police decision to freeze the suspects' bank accounts and put a caveat on their properties. The affected suspects include Christopher Obey, David Oloka, Steven Lwanga, and Isaac Sentongo of Cairo Bank.
The development indicates that the police are satisfied with their investigations and are ready to proceed to court. Our source indicates that the police visited the Ministry of Public Service, Cairo International Bank, the homes of the suspects as well as their registered properties spread across the country in the course of their investigations.
On Tuesday, the police warned the public against dealing with the suspects or their companies and businesses. Police investigations unveiled a vast array of lucrative properties belonging to some of the suspects, all valued in billions of shillings.
The blacklisted companies include Continental Financial International Limited, Ugafin, Leads Insurance Company Limited, Kagera Rice and Kagera Gaming, and Swift Commercial Establishment.
The pension scam came to the fore after it emerged that money meant for former employees of the East African Beneficiaries Association was going to a group of individuals in the ministries of public service and finance. This group is thought to have swindled over Shs163 billion.