By Watchdog reporter
The law firm hired by the Bank of Uganda (BOU) to nail tycoon Sudhir Ruparelia has been put on spot for being in serious conflict of interest.
Watchdog Uganda understands the Uganda Law Society and Law Council have both raised a red flag pointing out that MMAKS Advocates, the lead law firm representing BOU should not in the first place have accepted the offer because one of the defendant Mr Sudhir Ruparelia has been their client.
This website understands that MMAKS managing partner Timothy Kanyerezi Masembe who is the central bank’s lead lawyer in this case has represented Mr Ruparelia and Crane Bank before.
BoU should have known this but as usual that oversight bypassed them. On the other hand, Mr Masembe, one of the most respected lawyers in town should have known his law firm whose other partners include Mr Apollo Makubuya, were ethically on offside to turn their guns against their client.
BoU has recently told the public that they have already paid Sh400 million to only book services of the law firm. This has lead speculators to say BoU was planning to part with Sh1.3 billion in the case which has already portrayed BoU in bad light.