Ssebufu was picked by the police flying squad operatives on Friday after searching his Lumumba Avenue located car bond.
He is accused of kidnapping and torturing a one Betty Katusabe, a businesswoman from Kasese, over a Shs9m debt.
Ssebuufu and his thugs reportedly kidnapped Katusabe at the start of the week from her home located along Entebbe road and took her to their bond for torture.
She was afterwards dumped at Central Police Station.
She was later picked from CPS in a critical condition and rushed to Mulago Hospital where she was pronounced dead on Tuesday evening.
She had earlier called her friend, Agasha Ann, who also worked with Centenary Bank after her alleged kidnap.
It was Agasha who called her Katusabe’s boyfriend to follow up the matter.
Katushabe, 43, left Centenary Bank in January this year to run a merchandise shop in Kasese district.
In September 2015, Katusabe bought a Toyota Premio car from Ssebufu’s bond at Shs21m but failed to pays the balance of Shs9m which led to her torture and subsequent death.
Ssebufu was arrested from Nakumatt Oasis Mall at a Forex Bureau in Kampala.
The same businessman was in April last 2014 arrested for illegal possession of a fire-arm.