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UG Standard - Latest News

Chinese investor accuses dfcu Bank of gross fraud petitions, Museveni, DDP

Uganda's dfcu Bank faces fraud allegations in high-profile property dispute with Chinese investor Miao HuaXian

by Ronald Mayega | Reporter
29/10/2024
in Business, News, REAL ESTATE
Reading Time: 1 min read
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The dfcu Bank headquarters in Kampala, Uganda, at the center of a property dispute allegations involving Chinese investor Miao HuaXian
The dfcu Bank headquarters in Kampala, Uganda, at the center of a property dispute allegations involving Chinese investor Miao HuaXian

KAMPALA, Uganda — Chinese investor Miao HuaXian has appealed to Uganda’s Director of Public Prosecutions, Jane Frances Abodo, to intervene in a complex property dispute involving her real estate holdings in Kampala and dfcu Bank.

Miao claims her property, located at Block 284, Plot 4097 in Kyadondo Kisugu, was acquired without her consent and may have been illegally sold to Beatrice Nansubuga Mogebe and Didas Magara. Both Mogebe and Magara have faced police arrest related to the case.

The dispute escalated after Miao discovered a case involving Mogebe and Magara was filed at the Kampala Central Police Station. She urges the DPP to press dfcu Bank to disclose information on Mogebe and Magara’s whereabouts and clarify why her land’s title deed remains unreleased.

Miao also seeks to reopen a criminal case against Fred Kirenga, accused of stealing her possessions during an eviction from her Kololo property. Significant assets were stolen, adding to her substantial financial losses.

Additionally, Miao accuses court bailiff Moses Kirunda of unlawful actions during the eviction, removing her family’s property valued at billions of Ugandan shillings. Kirunda claims the stolen assets were returned to her caretaker.

Miao’s legal issues date back to a $500,000 loan from Crane Bank in 2012. Her failure to deposit additional security funds led to a judgment against her.

dfcu Bank embroiled in property fraud scandal: Chinese investor petitions Ugandan State House, DPP over disputed Kampala land

Miao petitioned Uganda’s State House seeking presidential intervention. She alleges unlawful eviction from her family home in Kololo and asserts ownership of properties in Kampala and Wakiso.

Miao hopes the DPP’s intervention will bring a fair resolution and hold those involved accountable, ending what she calls a “severe injustice” that has plagued her life.

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Tags: Chinese Investordfcu BankDirector of Public ProsecutionsEast africaFinancial CrimeForeign investment.Fraud AllegationsJane Frances AbodojusticekampalaLawMiao HuaXianPresidential InterventionProperty DisputeReal estateState HouseTian Tang GroupUganda

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