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    EC Sets programme and polling date for Bukimbiri County Parliamentary by-election 

    EC Sets programme and polling date for Bukimbiri County Parliamentary by-election

    Soroti City East By-elections: EC sets Tentative but Statutory deadline as Justice Byabakama Preaches fairness and Free process

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    More Clout: Stanbic Bank’s CEO Anne Juuko Business Leadership Skills Continues to Star, wins at the ABLA

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    Electoral Commission Issues Detailed 2022 Guidelines for Women Councils and Committees From Village to District Levels

    Electoral Commission Issues Detailed 2022 Guidelines for Women Councils and Committees From Village to District Levels

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    Final Whistle: UMA and NCF Floor UNCC as Ministry of Gender, Labor and Social Development Okays 28th June as Date for New Leaders Elections

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    English Whistle: Englishman Anthony Woodthorpe Won’t Stomach Stubbornness at Rugby Africa Cup in France 

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    Never Say Never: Doreen Kabareebe to finally Represent Uganda at the MS International Beauty Pageant

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    NWSC Improves Apac Water Supply with over 150 Kms of Main Extensions to Cover 60% of the Quantity Projected 

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    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

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  • 2021 Uganda Elections
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    EC Sets programme and polling date for Bukimbiri County Parliamentary by-election 

    EC Sets programme and polling date for Bukimbiri County Parliamentary by-election

    Soroti City East By-elections: EC sets Tentative but Statutory deadline as Justice Byabakama Preaches fairness and Free process

    Soroti City East By-elections: EC sets Tentative but Statutory deadline as Justice Byabakama Preaches fairness and Free process

    More Clout: Stanbic Bank’s CEO Anne Juuko Business Leadership Skills Continues to Star, wins at the ABLA

    More Clout: Stanbic Bank’s CEO Anne Juuko Business Leadership Skills Continues to Star, wins at the ABLA

    Electoral Commission Issues Detailed 2022 Guidelines for Women Councils and Committees From Village to District Levels

    Electoral Commission Issues Detailed 2022 Guidelines for Women Councils and Committees From Village to District Levels

    Raw Deal: Businesses cry Foul, says they Reap Zero out of Billions they Invest in ‘Influencers’ that Never Attract a Penny in Sales

    Raw Deal: Businesses cry Foul, says they Reap Zero out of Billions they Invest in ‘Influencers’ that Never Attract a Penny in Sales

    Still on MPs` Salary Upsurge? Well, Hon. Speaker Anita Among`s UGX2.5Bn New Mercedoz Finally Jet into the Country! 

    Still on MPs` Salary Upsurge? Well, Hon. Speaker Anita Among`s UGX2.5Bn New Mercedoz Finally Jet into the Country!

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

    Vincent Omoth – Marketing Manager Fresh Dairy (L) hands over 20 classroom desks to Head Teacher Kirinya Catholic School

    Fresh Dairy donates classroom desks to Kirinya Catholic Primary School

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
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    Final Whistle: UMA and NCF Floor UNCC as Ministry of Gender, Labor and Social Development Okays 28th June as Date for New Leaders Elections

    Final Whistle: UMA and NCF Floor UNCC as Ministry of Gender, Labor and Social Development Okays 28th June as Date for New Leaders Elections

    English Whistle: Englishman Anthony Woodthorpe Won’t Stomach Stubbornness at Rugby Africa Cup in France 

    English Whistle: Englishman Anthony Woodthorpe Won’t Stomach Stubbornness at Rugby Africa Cup in France

    Never Say Never: Doreen Kabareebe to finally Represent Uganda at the MS International Beauty Pageant

    Never Say Never: Doreen Kabareebe to finally Represent Uganda at the MS International Beauty Pageant

    Good to Fly: Crested Cranes CECAFA SWC Triumph Signals a Ready Team for the Morocco Bound AFCON

    Good to Fly: Crested Cranes CECAFA SWC Triumph Signals a Ready Team for the Morocco Bound AFCON

    The Bul-let: Resilient BUL FC fires a revenge bullet into Vipers Fresh at Stanbic Uganda Cup, stopping the Venoms Season Double 

    The Bul-let: Resilient BUL FC fires a revenge bullet into Vipers Fresh at Stanbic Uganda Cup, stopping the Venoms Season Double

    New Precedence: King Saha, Lawyer Erias Lukwago threaten to Contest any form of Online-Based Voting for UMA Presidency 

    New Precedence: King Saha, Lawyer Erias Lukwago threaten to Contest any form of Online-Based Voting for UMA Presidency

  • Lifestyle
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    NWSC Improves Apac Water Supply with over 150 Kms of Main Extensions to Cover 60% of the Quantity Projected 

    NWSC Improves Apac Water Supply with over 150 Kms of Main Extensions to Cover 60% of the Quantity Projected 

    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air 

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery 

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events 

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
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    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

  • 2021 Uganda Elections
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Vic Espionage Fiasco: Top City Bank holds onto Dr. Sudhir’s USD5M as his refusal of M7’s olive branch arise from slumber

September 5, 2021
inCrime, crime New, Crime news, Featured
Vic Espionage Fiasco: Top City Bank holds onto Dr. Sudhir’s USD5M as his refusal of M7’s olive branch arise from slumber

No longer at ease: Museveni (in hat) and Sudhir in one of those meetings years ago (Courtesy Photo)

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KAMPALA, Uganda: A top city Bank last week got clamped onto Meera Investments Limited proprietor, tycoon Sudhir Ruparelia’s USD5M which was wired into one of his Accounts by yet to be identified senders, the Investigator exclusively report.

Credible reports yet to be verified indicate how this development could have been prompted by the Financial Intelligence Authority (FIA) alert to the Bank. However, theories show the money was sent by three gentlemen, whose questionable dealing with Sudhir is souring by day and hence would want their dimes back.

“We shall be equipped with the details on Tuesday and that’s when we can go on record. By look of things, he (Sudhir) seem to have wanted to take the whole amount yet to them, he’s ‘entitled’ to around USD1.5M. But these could be diversionary stories since even the source is still indefinite,” our impeccable source from one of the involved parties intimated. We leave this as a developing story.

This incident came on the heels of the arrest on Thursday, of Dr. Lawrence Muganga, the Vice Chancellor for Sudhir’s academic facility, Victoria University. Released on Friday, the UPDF Spokesperson Brig. Flavia Byekwaso confirmed how Muganga is under investigation over espionage and illegal stay in the Country.

As obviously expected, Muganga’s release attracted a heavily sponsored hype on social media by none but yours truly Dr. Sudhir’s agents. For a bond release to be celebrated like an acquittal is a stance whose connotations can only be construed by only crime legendries and not the ordinary mind. Well, details in this case are larger than what meets the eye and, it is indeed a story for another day.

If it’s true one of Sudhir’s confidants in Muganga is accused of espionage, where does this gesture leave the former? Well, the only story close to this and where Sudhir is directly involved happened shortly before the closure of his Crane Bank Limited. And this very tier has been and still is, key on President Museveni’s to-do priority list to date.

The Story

Shortly before instituting the Crane Bank audit investigations whose findings resulted into the forensic report which is lately famous in these pages, the Country’s Internal Security Organization had gathered how Dr. Sudhir had reportedly, through one of his companies, transferred USD15M to a country whose relations with Kampala are deeply maimed.

Trust President Museveni for keeping potential criminal cases in the oven for years, letting the would-be culprits living larger and at large, the son of Kaguta told his intelligence ‘handlers’ to take time and manage the [Sudhir] findings, process by process (in his words; “deal with it accordingly”). For the knowledgeable of his tone, Museveni’s use of the word ‘accordingly’ harbor volumes of directives.

With such simple a statement, the Commander in Chief had directed for thorough investigations into the person of Sudhir, his dealings and activities carried out in and around his financial-related companies. Preliminary findings had it that at the time of the USD15M transaction, Crane Bank was left with less than 13Bn, a figure which is by law, too low compared to the required capital of UGX25Bn to run a financial institution in the Banana Republic.

“Now you can proceed and share your results with the Central Bank,” the President reportedly directed. This led to the Bank of Uganda-sanctioned external audit of Crane Bank. Our ardent readers are privy of the story on this website, of how the Central Bank tricked the good honorary doctor into the thorough audit of CBL, with a proposal of listing him for Stock Exchange as a bait.

What came out is the now popular forensic report after which, one evening on a weekend, President Museveni summoned Sudhir at his official den in Entebbe. “I know everything and the reason you’re here is for you to tell what I already know,” the supposedly calm son of Late Amos Kaguta lightheartedly started the ‘meeting’ (or something close to such.)

While Sudhir kept denying and swearing upon the living God and departed ancestors of his Dalit dynasty back in India, M7 kept sipping on his coffee, ogling at him with gross dissatisfaction written all over his face. He finally took his trademark deep breadth and told Sudhir how, even with all the false elucidations and denials he forwarded right to his face, no amount of the same would save his drowning business in Crane Bank.

The sour Olive Branch

In this meeting whose other attendees we are not at ease to mention, Museveni made it clear to Sudhir that he was not, and will never be convinced to the contrary, of his findings against him (Sudhir). However, known for his parental guidance, Museveni never left Sudhir to walk away without an option. He extended him an olive branch onto only which, his CBL would either cling or slip into eternal depose.

“I am giving you only two options,” Museveni reportedly started as Sudhir blinked behind his glasses and lightly shifted into his seat to attentively listen to the First Citizen, President, Commander in Chief and, Person of Last Resort. Without mincing his words, Museveni looked straight into Sudhir’s eyes and told him to choose either New Vision and or NSSF, into either, he must allot 51{0945c2a372ac1e8bbfe7cc3e10f9b82eb0b8ae872b07368d754f0396b6ef2afe} of his 100{0945c2a372ac1e8bbfe7cc3e10f9b82eb0b8ae872b07368d754f0396b6ef2afe} shares in CBL.

Sudhir reportedly looked blankly at Museveni. He tried and fought to talk but was betrayed by his defiant tongue which kept waggling inside his cheeks before he suddenly rose to leave. Museveni just looked on as his ‘visitor’ staggered away, cursing in tongues and talking small things he himself couldn’t hear. That was the last encounter both men had to date.

Back on the road to Kampala, the heavily incensed tycoon called one of President Museveni’s lady handlers and bitterly lamented. Reason? She had all along remained loyal to him but she kept Museveni’s CBL investigations and findings to her chest! He henceforth fell out with her and her attempts to join Parliament latter were suppressed by the negative forces that followed this fall-out.

But that call to the lady wasn’t a thing at all. The man in white linen did not wait to reach home or his office. He made a ‘dangerous’ call across the border and explained to the receiver, everything as happened in the meeting, not expecting any third party listener! Poor guy, the President was made to listen into the call. And alas! Your guess is no different from ours! Watch this space…

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