The Director of Public Prosecutions (DPP) has assumed control of the fraud case against Ugandan businessman Patrick Bitature and his wife, Carol Bitature, filed by a South African company.
The case initially began as a private prosecution, but on January 23, 2024, Buganda Road Resident Chief State Attorney Joan Keko, acting on behalf of the DPP, officially notified the court of the government’s interest in pursuing the matter.
This shift follows the issuance of criminal summons on January 22, 2024, mandating the couple to appear in court on February 6, 2024, in response to seven counts of conspiring to defraud over $26 million from South African money lender Vantage Mezzanine Fund 11 Partnership.
Patrick Bitature and Carol Bitature, serving as directors of Elgon Terrace Ltd and Simba Telecom, are accused of fraudulent actions in 2019 and 2020. They allegedly altered shares of their companies with the intent to defraud Vantage Mezzanine Fund 11 Partnership, a South African creditor owed $26,486,634.78 as of December 2019.
Additionally, the couple is charged with filing false annual returns for Elgon Terrace Limited at the Uganda Registration Services Bureau. This was purportedly done to deceive the company and undermine its value in security interests on charged shares.
Patrick Bitature and Carol Bitature are now set to face charges that include giving false statements as directors, fraudulent alteration of shares by directors, and conspiracy to defraud. The court appearance on February 6, 2024, marks a crucial juncture in this legal saga.
Source: The Ankole Times
