back to top
HomeUncategorizedFormer MP Kantinti Sent To Luzira Over 260M Loan

Former MP Kantinti Sent To Luzira Over 260M Loan

Published on

- Advertisement -spot_img
- Advertisement -spot_img

Katinti in the middle with Dr.Besigye

Former Kyadondo East Member of Parliament Apollo Kantinti has been sent to Luzira Prison for failing to clear his Bank loan.

Kantinti is to spend six months in Luzira or until he clears all the Sh260 million loan.

The former legislator failed to clear the loan he took from Standard Chartered Bank in June 2016.

He allegedly borrowed Shs300 million from the said bank which he was supposed to pay back in 50 installments over a period of four years, with a 25 per cent interest.

“In 2017, he however, started defaulting on his monthly payments which compelled the bank to run to Kampala High Court,” the local news website stated.

In May this year, High Court Deputy Registrar in charge of executions Flavia Nabakooba issued an arrest warrant for Kantinti which prompted his arrest on June 27, 2019.

In 2017, Kantinti lost a by election to musician turned politician Robert Kyagulanyi alias Bobi Wine.CreditWatchdog

Related

Hajjat Kenyangi Sophia Safina Applauds Ntungamo People For Endorsing MK Agenda

The Patriotic League of Uganda (PLU) Coordinator for Kampala Metropolitan, Hajjat Kenyangi Sophia Safina,...

Coca-Cola Challenge Brings Cash Prizes to Kyambogo Students

Young Ugandan content creators stand a chance to win weekly rewards and a monthly...

Former Rwandan Refuge Soldier Kabera, Govt Critic Murdered In Mpigi

A former Rwandan army officer who sought refuge in Uganda after claiming that his...

Kenya’s Ebola Cases Hit 8 As Deadly Disease Spreads Ravages DRC Provinces

Kenya's Health Ministry on Sunday confirmed another case of Ebola, bringing the number of...

More from The Capital Times

Africa Can Feed Itself-Museveni Declares End To Food Imports With Homegrown Solutions

President Yoweri Kaguta Museveni has reiterated the importance of food self-sufficiency in Africa, stressing...

Business Boom In Namugongo Ahead Of Martyrs Day

Business has picked up this morning at Namugongo Martyrs shrine according to traders. The...

Latest Protracted Legal War Setback In Crane Bank Case Leaves BoU On Brink

What was set to be a blockbuster legal battle could end on a whimper...