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Police launch investigations on Prime Bank false alarm

By ZADOCK ANGIRA November 13th, 2016 1 min read

Police have launched investigations into the origin of a post on social media that indicated that Prime Bank was not stable and advised the customers to withdraw their money.

The bank on Friday denied the reports and also lodged a complaint with the Banking Fraud Investigation Department (BFID) and the Directorate of Criminal Investigations (DCI).

The bank said they were notified of some message regarding the bank on Whatsapp which read:

“Yesterday most communities withdrew funds from the Prime Bank including the Cutchi Leva Patel Samaji, the Rajput Dhobi Association, Visa Oshwal, Oshwal Board of Education and Ramgharia Sikh. If you have substantial savings or any money at all in Prime Bank, act now and line up to get it back. Sudhir Ruparelia has taken off with 10.5 billion from Prime bank. They have together invested in many properties which are now under control of bank of Uganda. Don’t let another Imperial hit you.”


The bank said it did not hold the accounts of communities like Cutchi Leva Patel Samaj, Ramgharia Sikh Union or Rajput Dhobi Association.

The bank also said it did not have any shareholding in Crane Bank, neither did Crane Bank have any shareholding in theirs.

“We do not have any account or exposure to Sudhir Ruparelia,” the bank said in a message sent to the newsrooms.

Already, detectives from the Cyber Crime Unit at the DCI headquarters have launched the investigations but by Sunday morning no suspect had been arrested.