Two senior officials of the Uganda Liberal Teachers’ Union Savings and Credit Cooperative Organization (SACCO) have been remanded to Luzira Prison on charges of defrauding members of approximately Shs2.7 billion in a fraudulent land transaction.
Evans Mutesasira Kaganizo, 53, the SACCO’s chairman, and Hassan Esiungwa Maganda, 58, the general secretary, appeared before Chief Magistrate Ronald Kayizzi at Buganda Road Court on March 6, 2025. They were charged with obtaining money by false pretence and conspiracy to defraud, offenses they both denied.
According to court documents, between November and December 2024, Esiungwa, along with others still at large, allegedly obtained over Shs1.3 billion from the SACCO by falsely claiming to sell 500 acres of land in Kabwoya and Kyangwali sub-counties. Additionally, it is alleged that Esiungwa and Mutesasira conspired to defraud the SACCO members of Shs2.7 billion in the same period.
Prosecution, led by Mr. Ivan Kyazze, informed the court that investigations are ongoing. The defense requested a postponement of the bail application, stating they were not prepared to proceed. Consequently, Magistrate Kayizzi remanded the accused until March 19, 2025, for the bail hearing.
This case underscores the critical need for stringent oversight in financial cooperatives to protect members’ investments and maintain trust in such institutions.
