Police probe Shs12b in suspected money laundering

Police are investigating a case of suspected money laundering and fraudulent transaction of $3.4m (about Shs12.4b) involving Guaranty Trust Bank Uganda and Oranto Petroleum International Ltd.

According to police, it is alleged that Oranto Petroleum International was licensed by the Ministry of Energy in October 2017 to explore oil and gas in Uganda.

Sources at the Directorate of Criminal Investigations (CID) headquarters close to the investigation told Daily Monitor that when Oranto Petroleum International was awarded the contract, it opened up two accounts in Guaranty Trust Bank Uganda- a dollar account and a shilling account.

“The by then Country Representative for Oranto Petroleum International, Mr Joseph Brown, was made a principal signatory for both accounts and all those powers were given to him by the chairman of Board of Directors of Oranto Petroleum International,” the source said.

The source added that on October 10, 2017,  $3.4m was deposited on the Oranto Petroleum International dollar account in Guaranty Trust Bank Uganda. However, on the same date $1m was withdrawn from the account without Mr Brown’s knowledge.

“Joseph Brown did not authorise any withdrawal from the account. He only received a notification from the bank that one million United States dollars has been withdrawn from the account and he questioned the bank about the withdrawal,” the source added.

According to the source, when Mr Brown questioned the bank about the withdrawal,  he was referred to the company’s board chairperson, Mr Arthur Eze, for clarification.
 
However, Mr Brown did not receive any answer regarding the money withdrawal until last year when he was fired after repeated inquiries about the matter.

“After Joseph Brown was fired, he came to the CID headquarters and filed a complaint against Guaranty Trust Bank Uganda,” the source added.

The CID spokesperson, Mr Charles Twiine, confirmed the investigation.

“As far as that investigation is concerned, detectives have found out that Guaranty Trust Bank Uganda generated a payment cheque where Prince Arthur Eze, the chairman Board of Directors of Oranto Petroleum International was a payee at the same time a drawer. That is how the money was withdrawn from the bank,” Mr Twiine said.

Other partners
He added that the detectives also found out that the payment cheque was sanctioned by the then executive director of the bank, Ms Irenosen Ohinireh, who was later transferred to head Guaranty Trust Bank, Rwanda. 

“We have so far summoned Ms Ohinireh who has made a statement with us and other two bank officials who have sent their lawyers but in total, we want six bank officials to record statements in respect to this matter,” Mr Twiine said.

Efforts to reach Guaranty Trust Bank Uganda for a comment were futile as their communication and external affairs telephone contact could not go through.

Oranto Petroleum International explores and develops oil and gas resources. The company specialises in offshore drilling. Oranto Petroleum International operates in Nigeria. It was registered in Uganda in January 2017.
  
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