Big Story! Man Arrested For Withdrawing UGX1 Billion After Bank Accidentally Deposited Over Shs17.5 Billion State Allocation On His Account

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Police in Trinidad & Tobago have charged a 31-year-old man with larceny after he allegedly withdrew nearly TT$1 million (One TT dollar=US$0.16 cents) approximately to UGX One billion that had been credited to his personal account held at an undisclosed financial institution.

In a statement, police said that a system error had resulted in TT$32,347,308.55 (Around UGX 17.5 Billion) being credited to the personal account of the man.

According to Police, during the period November 18th, 2022 and December 1st, 2022, “the owner of the personal account withdrew sums totalling TT$825,000 in cash from various Automated Banking Machines and conducted Point of Sale purchases totalling TT$131,357.70, together totalling $956,857.70. “

They said efforts by the financial institution to get a full refund of the money proved futile and a report was made to the Fraud Squad.

The police said following investigations into the matter, the Fraud Squad conducted an exercise which resulted in the arrest of a male suspect.

It said a total of TT$600,501 in cash was allegedly recovered at his home.

The man, who was charged on Thursday, is due to appear in court soon.

Story Credit: Jamaican Observer 

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