Ugandan businessman Patrick Bitature and his wife Carol Bitature have been issued criminal summons by Buganda Road Chief Magistrate’s Court to answer charges of defrauding a South African lender.
On Monday, Chief Magistrate Ronald Kayizzi issued the summons in response to a private prosecution request by lawyers from Kirunda and Company Advocates. He stated, “You are hereby commanded by the government of Uganda to appear in this court on February 6, 2024, as the case will be heard.”
The charges stem from seven counts of conspiring to defraud Vantage Mezzanine Fund 11 Partnership, a South African company, of over $26 million. The case originates from actions taken in 2019 and 2020, while Bitature and his wife were directors of Elgon Terrace Ltd and Simba Telecom.
The couple is accused of:
- Fraudulently altering shares of their companies: This alteration allegedly aimed to deceive Vantage Mezzanine Fund 11 Partnership, their creditor for $26,486,634.78 as of December 2019.
- Filing false annual returns: They are suspected of submitting inaccurate financial reports for Elgon Terrace Limited to the Uganda Registration Services Bureau, potentially undervaluing the company’s assets used as loan security.
- Giving false statements as directors: This charge relates to any potential misrepresentations made in their official capacity.
Bitature and his wife face charges of conspiracy to defraud, fraudulent alteration of shares, and giving false statements as directors. They are expected to appear in court on February 6, 2024, to answer these charges.
