Friday, September 29, 2023
Home Top News Why court stopped sale of late tycoon BMK’s property

Why court stopped sale of late tycoon BMK’s property

by Editorial Team
0 comment

By Alfred Byenkya

The family of late city tycoon Bulaimu Muwanga Kibirige, commonly known as BMK, has obtained a temporary court order stopping the sale of some of his properties.

The family said in a statement that they went to court to stop the process because the person who used the properties to get loans did it fraudulently without consulting other family members.

“On behalf of the MBK Group of Companies and Muwanga Holdings Limited, I wish to clarify on the various media stories over the sale of the family properties. We want to clarify that we experienced forgeries on some of our land titles and they immediately used them to obtain bank loans,” they said.

Some of the affected properties are land property at upper Naguru Road, Plot 15, land and property at Mulamula Road, among others.

“The general public is hereby informed and warned to desist from being duped into buying any of the above properties. Whoever does so will have been conned because the properties are not for sale,” they warned.

The properties have been advertised by one of the city banks after one of the alleged sons of BMK called Haruna Muwanga Kibirige used them to get loans without knowledge of other family members.

This was after the family conducted DNA tests of all BMK’s children and it was established that Haruna is not a biological son of BMK despite being given the responsibility to manage the properties of the late tycoon.

When it was established that Haruna is not BMK’s son, he got disappointed and secretly used BMK’s properties to get loans because he was going to lose the responsibility of managing them on behalf of the family.

He used his own company HRN business Services Ltd to get the loans, which he failed to clear intentionally because he wanted to get out of the family with enough capital to start life on his own.

Reports say that he is now living in the US, UK or Canada.

He has, however, asked his mother known as Mama Musa never to look for him because he has no hopes of returning back to Uganda.

The bank where he got the loan has been calling his mother because she was the next of kin when get got the loans, but his mother doesn’t have any money to clear them

She told the bank officials that she signed the loan forms ignorantly because she wasn’t sure of the exact reason why her son told her to sign them

As a result, the properties are being auctioned by the bank as one of the ways of recovering the money they loaned to Haruna, who disappeared from Uganda without telling anyone.

You may also like