Uganda central bank sues Crane Bank director for over $100m

uganda

The Bank of Uganda has filed a law suit on behalf of troubled lender, Crane Bank, against Sudhir Ruparelia for the retrieval of more than $100 million.

In a statement released on July 13, the central bank said it was seeking to retrieve funds from the owner of Meera Investments, which it claims were “fraudulently extracted” from Crane Bank from 2013 to 2016.

“The suit seeks to recover a total of $93.8 million and 60.3 billion shillings ($20 million), together with the freehold titles to Crane