The Directorate of Public Prosecution (DPP) has dismissed media reports that they are considering placing criminal charges against Sudhir Ruparelia due to his role in the collapse of Crane Bank Ltd, a bank he founded in 1995.
“There are no preferred charges because what we have received is a criminal complaint about the mismanagement of the bank (Crane Bank). That is what is being considered right now,” Jane Akuo, the DPP’s Head of the Public Relations and International Cooperation Department told the media on Wednesday.
She added: “It is a bit premature to start talking about charges at this point… The Office of the DPP does not prefer charges on a matter that has not been investigated by police, on a matter that it has not analysed or looked at evidence.”
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Akuo was responding to media reports that claimed that Bank of Uganda (BoU), which sanctioned a High Court suit against Sudhir for allegedly siphoning money from Crane Bank, asked the DPP to “kick-start criminal proceedings against Sudhir for alleged fraud,” unless he returned the money.
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BoU wants Sudhir compelled to return Shs397bn, which he allegedly ‘extracted’ from Crane Bank, as well as the bank’s land titles that he transferred to his other company, Meera Investments Ltd.
Recently, the Inspector General of Police Gen. Kale Kayihura said they were not investigating Sudhir.
“…We have not received any complaint (about Sudhir), at least as far as I know,” he said.
