As the saga involving the closure of Crane Bank continue to unfold, more information reveals on how many players in the banking especially Bank of Uganda, Dfcu and legal sector (MMAKS and Bowmans and Mpanga) positioned themselves to share the loot from bank and properties of the shareholders.
According to credible sources within BoU one such person who positioned himself strategically was the showy city lawyer, David Mpanga who according to sources, ‘allegedly asked that after accomplishing his task as hired by BoU, he would on top of that be given Sudhir’s Kololo home.
This website understands that in the initial meetings that were held in one of the posh homes of one the BoU employee around one of the suburbs and attended by BoU Deputy Governor Dr. Louis Kasekende, Former Executive Director in charge of Supervision, Justine Bagyenda, Ex-Dfcu bank Managing Director Juma Kisaame, Dfcu bank board chairman Jimmy Kiberu among others, Mpanga is alleged to have said that for him he understood Crane Bank matters well and more so those of the majority shareholder Sudhir Ruparelia and therefore, he wouldn’t waste time but the only favour he needed was that after the closure of Crane Bank and thereafter the attachment of several properties belonging to Mr. Sudhir, he (Mpanga) would be allowed to take over Sudhir’s Kololo home.
Bank of Uganda which had to file its defence in Court through external lawyers MMAKS advocates and AF Mpanga advocates.
But the affluent businessman Sudhir again failed another legal suit challenging the presentation of David Mpanga and Timothy Masembe as BoU’s lawyers.
One of the main reasons, Sudhir informed court that the duo at one time were his legal counsels and therefore it would be unfair for the defendant to hire these conflicted lawyers.
Court indeed ruled that Mpanga and Masembe should immediately be dropped from the case.
It must be noted that Bank of Uganda had paid close Shs1 billion to these lawyers.
“The plan was to take away his bank. Because these people knew very well the bank was earning Sudhir good money. Which they succeeded in executing,” said a source close to this lawyer but asked to remain unnamed.
In executing their deadly mission, this lawyer and his cohorts calculated that after selling the bank, it would be a great move in crippling Uganda’s richest man financially. However, Sudhir realized their move and crippled them using the very court they would use to grab his long earned property.