MP sued over Ush 156m bank loan repayment

Monday 16 February 2015




Posted  Friday, February 13  2015 at  12:07
In Summary
According to the court documents signed by the court Registrar Thaddeus Opeseni, Balikudembe has been given only 10 days within which to defend himself on the allegations.

Kampala, Thursday. The Commercial Court has summoned Busiro South MP Joseph Balikudembe Mutebi to defend himself on allegations that he failed to pay a Sh156million loan he acquired from Housing Finance Bank.
According to the court documents signed by the court Registrar Thaddeus Opeseni, Balikudembe has been given only 10 days within which to defend himself on the allegations.
The said money arose from a personal loan he got from Housing Finance Bank but failed to pay since May 2011.
The Bank says Balikudembe applied for a swift loan of Sh10million payable in 6 months installments but he only made a few deposits leaving a balance of Sh156million.
In September last year, Mr Balikuddembe was arrested at a wedding ceremony on the orders of Buganda road court for allegedly issuing false cheques to a businessman, Emmanuel Masesane.
Upon his arrest and questioning, Mr Balikudembe argued that he only acted as a witness in the Sh630million transaction involving an elderly couple from his constituency and Mr Masesane.
Mr Balikuddembe, who was the best man at the wedding of a close friend at Rubaga Cathedral, was whisked away by the Police to the cathedral police post where he was questioned about the money and released.
He was arrested for allegedly defying court summons to answer criminal charges of bouncing cheques. (NMG)
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