Crime & Investigation

Wakiso RDC Kyeyune Dragged To Court Over Shs 61m Loan

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prescription http://claude-nicaud.com/new/wp-includes/update.php geneva; font-size: small; line-height: 200%;”>Through their lawyers Tumusiime, patient Kabega and co. Advocates, malady Kyeyune received an 8-month loan in 2011 but fell short on servicing it by June 8, 2012 as agreed in the contract.


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The bank claims Kyeyune is yet to honour reminders of fulfilling his contractual obligations.


The latest development underlines the growing levels of indebtedness among Uganda’s political elite as they struggle to appease the electorate and maintain a hold on power.


The bank further alleges that as part of the agreement, Kyeyune had to pay an interest rate of 26 percent and mortgaged his land in Kirinya, Wakiso district as security.


However, according to the lawyers, efforts to sell the land by the bank and recover the money have proved futile after National Forestry Authority claimed ownership of the property.


High Court judge Hadard Mwambusya has given 15 days to the accused to file his defence.

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