The Chief Magistrate’s Court at Buganda Road has sanctioned a private criminal case against the executives of Vantage Mezzanine Fund II Partnership, a lending firm based in South Africa.
The company, which is embroiled in an ongoing legal dispute for providing a substantial loan of approximately shs360 billion ($10 million) to the Ugandan entrepreneur, Patrick Bitature, is now facing legal challenges. Earlier in the year, attorney Wycliff Atuhairwe from Moogi Brian & Company Advocates initiated legal action at the Buganda Road Chief Magistrate’s Court. He accused the three executives of Vantage Mezzanine Fund II Partnership of unlawfully conducting a moneylending enterprise in Uganda since 2014 without proper registration or a license.
The legal practitioner contended that the South African firm’s loan issuance to Patrick Bitature in 2014 was the commencement of its unauthorized operations within the nation, constituting a legal violation.
The court, led by Winnie Nankya, the acting Principal Grade One Magistrate at Buganda Road, has now endorsed the private criminal prosecution of the directors, namely Warren Van Der Mernse, Mokgome Mogoba, and Drek Alexander.
Magistrate Nankya confirmed that the plaintiff has fulfilled all legal and procedural prerequisites to initiate a private criminal prosecution based on the sworn complaint and its supporting affidavit.
Subsequently, she authorized charges against the directors for operating a money lending business without a legitimate license, in contravention of section 84(1)(a) of the Tier 4 Microfinance Institutions and Money Lenders Act, 2016.
Criminal summons have been issued for the trio, who are expected to make a court appearance on March 22.
