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Two Departed Asian Property Board bosses arrested over fraud

It is alleged that Bizibu has been under investigation by the Anti Corruption Unit after President Yoweri Museveni gave green light following complaints from investors.

George William Bizibu the Executive Secretary of the departed Asian property custodian board (R) and his Accountant (L) have been arrested for falsely obtaining money from various persons while purporting to allocate them properties.

KAMPALA, UGANDA: The State House Anti Corruption Unit (SH-ACU) in liaison with Police have arrested two top members of the Departed Asian Property Custodian Board (DAPCB) over fraud-related charges.

George William Bizibu, the executive secretary of the board together with his accountant were on Wednesday evening arrested for allegedly obtaining money from various persons purporting to allocate them some of the properties under the Board’s custodianship.

According to a tweet by the State House Anti-Corruption Unit, the two are accused of defrauding people by issuing false allocation letters & receipts after extorting huge sums of money.

“State House Anti-Corruption Unit in liaison with police, have arrested both the executive secretary and the accountant of the departed Asian property custodian board for falsely obtaining money from various persons while purporting to allocate them properties,” the anti-corruption unit said in a tweet.

It is alleged that Bizibu has been under investigation by the Anti Corruption Unit after President Yoweri Museveni gave green light following complaints from investors.

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The departed Asians board was formed to deal with properties left behind by fleeing Asians after their expulsion by then-President Idi Amin in the early 1970s.

The Asians, after their expulsion left behind properties which included businesses, stock and real estate.
Some of them later repossessed their properties yet government had fully compensated them.

In the recent past, the Attorney General and courts have questioned the management of the properties of the departed Asians by the board.

Mr Kiryowa Kiwanuka in his legal advice to President Museveni dated March 22, 2022 held that the Custodian Board Divestiture Committee does not have powers to repossess, manage or allocate any property that has been dealt with by the Finance minister.

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