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Vision Group Principal Accountant jailed 5 years for theft of 262m

Kampala, Uganda | GODFREY SSALI | Former Vision Group Principal Accountant Peter Mubbale has been sentenced to 5 years imprisonment for stealing 262m shs from his employer.

Anti-corruption court Judge Margret Tibulya convicted 60 year old Mubbale yesterday, cancelled his bail and sent him to Luzira prison where he spent the night.

Mubbale was found guilty of embezzlement of the said money from New Vision Printing and Publishing Company through manipulating the receipts and carbon copies.

The Judge ruled that Mubaale used to collect cheques from advertising clients and then issue receipts to Newspaper distributors for money paid by advertisers.

Mubbale committed the offence between 2008 and 2013 after joining Vision Group in 1989.

He has now been banned from public office for a period of 10 years and ordered to refund 262m shs to Vision Group.

One comment

  1. There was a weakness in internal controls. It seems there was no segregation of duties in the company. If an independent person was reconciling debtors’ records, that fraud would have been detected much earlier and stopped.

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