The primary court of Nyarugenge on Tuesday denied bail to former Development Bank of Rwanda, Alex Kanyankole who is accused of favoritism and soliciting for and receiving illegal benefits in order to offer a service.
The court said that there is already substantial evidence implicating the former CEO of the Development Bank of Rwanda, which requires more investigation as he remanded him for one month.
The court also opined that Kanyankole’s case carries more than two years of imprisonment on conviction which according to the law, such suspect cannot be granted bail before thorough investigation has been concluded.
Neither Kanyankole nor his lawyers Alice Umuriza and Emmanuel Rukangira attended the session for the ruling.
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Kanyankole, had last week appeared in court requesting bail, pending the case to begin in substance.
The judge said that the suspect, upon release, might jeopardize ongoing investigations on the total loss the bank incurred during his leadership.
Kanyankole was CEO of BRD between 2013 and 2017, the period within which he is accused of having committed the crimes for which he stands accused.
The judge added that as part of the investigations, there are employees and clients at the bank who are pinning the accused, from whom testimonies have to be collected.
“Since there are individuals who pin Kanyankole for the crimes he is accused of, it is important that the suspect stays in custody as investigations continue,” the judge said.
The judge also added that since Kanyonkole accepts that he received some gifts from a client to whom a loan facility was extended by the bank, it is yet another reason to remand him until thorough investigation is carried out.
However, Kanyankole denies all the charges.