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Ugandan Businessman Emmanuel Lwasa On The Run For Failing To Settle UGX 18 Million Debt

Lwasa

In a surprising turn of events, the well-known Ugandan city tycoon and businessman, Emmanuel Lwasa, finds himself in hot water over a substantial debt amounting to UGX 18 million. The aggrieved party, whose identity remains undisclosed, filed a formal complaint against Lwasa, accusing him of defaulting on a financial agreement.

Mr. Lwasa was required to attend a court session to defend himself against these allegations. However, to the dismay of the court and the creditor, Lwasa failed to appear, prompting the court to issue an arrest warrant for the businessman.

The genesis of this legal issue stems from a financial agreement between Emmanuel Lwasa and an undisclosed party, wherein Lwasa was entrusted with a substantial sum of UGX 18 million. The purpose of this transaction remains unclear, as the details surrounding the loan or investment are yet to be disclosed to the public. What is known, however, is that Lwasa has allegedly failed to fulfill his financial obligation to the creditor.

City tycoon, Emmanuel Lwasa
City tycoon, Emmanuel Lwasa

In a move that has raised eyebrows and further intensified the controversy surrounding this case, Emmanuel Lwasa failed to attend the court session where he was expected to provide a defense against the debt allegations. His absence from the court proceeding has not only drawn the ire of the creditor but has also led the court to take decisive action.

The failure of Emmanuel Lwasa to appear in court led the presiding judge to issue an arrest warrant for the businessman. The arrest warrant is a legal directive compelling law enforcement agencies to apprehend Lwasa for his non-compliance with the court summons. This development has generated significant media attention, further tarnishing the reputation of the businessman.

Emmanuel Lwasa, a prominent figure in Uganda’s business and social circles, has long been a subject of media attention and speculation. His involvement in this legal dispute and subsequent evasion of court has only intensified the public’s interest in his affairs. Moreover, the incident sends a clear message regarding the importance of honoring financial agreements and respecting the judicial process.

Also read; Hafi Was On Trials And She Is Not My Worth; Lwasa Hinted At His Four-Days Breakup

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