Bank of Uganda Summoned to Defend Itself Against Businessman
The High Court has summoned the Bank of Uganda to defend itself against a new suit brought against it by property mogul Sudhir Ruparelia. Last month, the Bank sued Ruparelia for about Shs400b he allegedly fraudulently took out of the now-defunct Crane Bank and the businessman says this is a breach of confidentiality in a settlement between the two parties.
A photo montage of the under fire Crane Bank proprietor Sudhir Ruparelia, left, and Bank of Uganda governor Emmanuel Tumusiime-Mutebile.
Observer, 7 August 2017
In its case versus Sudhir Ruparelia, Bank of Uganda levels several charges against the businessman. Read more »
Monitor, 6 August 2017
Property mogul Sudhir Ruparelia on Thursday revealed in his defence that in March, he entered an agreement with Bank of Uganda (BoU) to clear his obligations regarding the defunct… Read more »
A forensic report into the demise of Uganda's Crane Bank details a litany of problems, including billions wasted on dubious software and bad loans being written off. And the ... Read more »