Buganda Road Chief Magistrate’s Court has issued criminal summons against Ugandan businessman Patrick Bitature and his wife Carol Bitature. The couple is required to appear in court on February 6, 2024, to answer charges of conspiring to defraud a South African money lender of over USD 26 million.
The summons were issued by Chief Magistrate Ronald Kayizzi based on a private prosecution initiated by lawyers from Kirunda and Company Advocates. This follows an order by Kampala High Court Judge Rosette Kania on January 8, 2024, authorizing the prosecution of the couple on fraud charges.
The Bitatures, directors of Elgon Terrace Ltd and Simba Telecom, are accused of fraudulently altering company shares in 2019 and 2020 with the intent to defraud Vantage Mezzanine Fund 11, a South African creditor to whom they owe $26,486,634.78 as of December 2019.
Furthermore, they are charged with filing false annual returns for Elgon Terrace Limited at the Uganda Registration Services Bureau to intentionally deprive Vantage of its security interest in the charged shares.
The chargesheet approved by Kayizzi specifies that Patrick Bitature, 60, and Carol Bitature, 56, will face charges of providing false statements as directors, fraudulently altering company shares as directors, and conspiracy to defraud.
