Drama As Man Sues Nephew For Allegedly Defaulting On A Mortgage He Lent Him To Pursue His Publish-graduate Research Overseas
Dr. Namara and his Attorneys
Dr. Warren Namara, a Ugandan citizen has filed a case in opposition to his nephew for allegedly defaulting on a mortgage he lent him with to pursue his put up graduate research within the UK and arrange a enterprise afterwards.
In response to paperwork earlier than the Industrial Division, Dr. Namara contends that by oral settlement in 2004, he agreed to lend £9,800 (about Shs47m) to his nephew, Mr James Diers Mwangusya.
The comfortable mortgage in query was to assist Mr Mwangusya undertake his Grasp’s and PhD research on the College of Bradford within the UK.
Courtroom paperwork additional present that after the nephew had accomplished his research, he once more approached his uncle and requested for one more mortgage to allow him begin a enterprise.
Dr Namara upon request by his nephew, remitted one other mortgage of $256,066 (Shs947m) and Shs160m to his nephew.
He, nonetheless, says, he later found that Mr Mwangusya had fraudulently misrepresented the true objective of the funds so as to trick him to disburse the cash.
“To be able to induce the plaintiff (Dr Namara), to disburse additional mortgage sums to the defendant (Mr Mwangusya), the defendant represented that he was finishing up an asset financing, venture planning or coaching enterprise,” Dr Namara states in his petition.
“In actual fact, the illustration was false as a result of the defendant was not on the time enterprise/ kick beginning any asset financing, venture or coaching enterprise,” Dr Namara additional states.
He says Mr Mwangusya claimed he wanted £9,800 (Shs47m) to undertake additional research whereas he was not enrolled for a course in any college for a PhD programme.
The petitioner additional states that his nephew diverted the mortgage cash to different companies unrelated to the settlement on the time of disbursing the funds.
Dr Namara who’s represented by Kasirye, Byaruhanga & Co. Advocates, stated he’s in search of to get well the cash from Mr Mwangusya.
In his defence, Mr Mwangusya concedes that he’s a detailed relative to Dr Namara.
He additional claims to have operated a cash lending enterprise often called Cashbox which he says his uncle picked curiosity in and determined to collectively spend money on it.
“He (Dr Namara) agreed to take a position as much as a tune of Shs500m. The return on his funding could be 2 per cent per 30 days of the full sum invested which was projected he would obtain on the finish of 2019 and the beginning of 2020,” Mr Mwangusya states in his defence.
He continued: “As a precondition for his participation on this joint funding, the plaintiff (Dr Namara) demanded he turns into a registered companion within the Cashbox enterprise to which the defendant and different companions obliged.”
Mr Mwangusya has additionally implored the court docket to notice that every one the cash meant for the joint funding was duly recorded and that his uncle didn’t object to the figures documented.
The matter had come up for listening to on Monday, October 12, however Mr Mwangusya’s lawyer was absent on grounds that he was sick. The case was adjourned to October 27.