The Kampala Lord Mayor Erias Lukwago insists that Ugandans should not be fooled about the looming legal battle between Bank of Uganda (BOU) and business magnate Sudhir Ruparelia.
While appearing on a radio talkshow recently, Mr. Lukwago noted that the fact that BOU chose to go civil rather than criminal is an indication that there is more than what meets the eye.
“Sh400billion and the purported fraud and someone chooses to go civil? Give me a break. This clearly a deal gone bad and there is more to what meets the eye,” Mr. Lukwago said.
He explained that by now top officials including the Governor should be in Luzira for failing to execute their duties and lying to Ugandans for over seven years that the now defunct Crane Bank was in healthy and sound financial state when it was not.
“It takes a child of below 10 years to believe that the best performing Bank three years in the row can just collapse out of the blue! The Governor BOU owes Ugandans an apology for lying to them and he must be answerable for all these,” Lukwago stressed.
Meanwhile TheUgandan has learnt that the businessman and Chairman of Ruparelia Group of companies has not offered any property as reported by one of the dailies.
“We are ready to defend our client and we believe we shall triumph, he has not offered any property and we wonder where they got those reports,” a lawyer on the team hired by Sudhir told TheUgandan on condition of anonymity.
An impeccable source from BOU said that the institution agreed with the law firm a fee of sh13b to represent them in court and that the firm has already received sh2b as part payment.
Sudhir’s lawyers led by McDosman Kabega have written to New Vision a notice of an intention to sue for the daily’s alleged baseless, deluding, tarnishing and defamatory stories about their client.
By Isaac Baligema