In a letter dated January 23, 2024, Buganda Road Resident Chief State Attorney Joan Keko, acting on behalf of the DPP, confirmed the government’s interest in pursuing the case. This follows criminal summons issued on January 22, 2024, requiring the couple to appear in court on February 6, 2024, to answer seven counts of conspiring to defraud over $26 million from South African money lender Vantage Mezzanine Fund 11 Partnership.
The summons stem from an order by Kampala High Court Judge Rosette Kania on January 8, 2024, directing the prosecution of the Bitatures on fraudulent charges. As directors of Elgon Terrace Ltd and Simba Telecom, the couple allegedly altered company shares in 2019 and 2020 with the intent to defraud Vantage Mezzanine Fund 11 Partnership of their security interests.
It is alleged that outstanding debt owed to the South African creditor as of December 2019 is $26,486,634.78.
Additionally, the Bitatures are accused of filing false annual returns for Elgon Terrace Limited with the Uganda Registration Services Bureau to conceal the value of their security interests from Vantage.
The indictment specifies that Patrick Bitature, 60, and Carol Bitature, 56, will face charges of providing false statements, fraudulent alteration of shares by directors, and conspiracy to defraud.
