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Uganda’s $60B Fraud Exposed | Uganda News
A major scandal has erupted as Uganda’s Auditor General reveals a massive fraud: over 60 billion shillings—nearly $14 million—was illegally diverted overseas from funds meant to service World Bank and African Development Bank loans. The money ended up in UK and Japanese accounts in September 2024, uncovered through a forensic audit. Nine Bank of Uganda officials are now suspended and facing criminal charges after police concluded this was an inside job, not a cyberattack. While the UK portion has been recovered, the Japanese funds remain missing due to lack of cooperation from local banks…
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