DTB picked Shs100bn from tycoon Ham accounts

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City tycoon Hamis Kiggundu has threatened legal action against Diamond Trust Bank for deducting Shs100bn from two of his accounts without authorisation.

This is contained in a letter dated January 10, 2020 to the bank’s managing director.

The letter demands that the deductions on the two accounts belonging to one of his companies, Ham Enterprises, be reversed and investigated.

According to his letter of intention to sue, Diamond Trust bank fraudulently debited Shs29bn from his shillings account and another Shs22bn from a dollar account.

Victoria University

The transactions took place in a period of ten years.

He demanded for a full accounts figurative audit, account reconciliation and a detailed explanation on the same otherwise Ham Enterprises U Ltd requests that its money should be refunded to its accounts within five days from then and that its Certificates of titles pledged as security be returned for as far as the company is concerned.

He said the actions of the bank in regard to their previous dealings had complicated, stifled and frustrated their contractual obligations and duties with Diamond Trust Uganda and Kenya all which amounted to breach of contract.

“The company thereby communicated termination of all existing contracts. Clearly stating that, as far as Ham Enterprises (U) Ltd is concerned; there was no indebtedness to the bank,” his letter reads.

Kiggundu who had taken out loans from Aga Khan owned DTB terminated his contract in November last year.

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