Ugandan millionaire bailed in fraud case

February 21, 2011 12:00 am

, NAIROBI, Kenya Feb 21 – Flamboyant Ugandan businessman Michael Ezra Mulyoowa has been released on a cash bail of Sh4 million after he was charged with two counts of issuing bouncing cheques last week.

Mr Ezra who is said to be a billionaire in Uganda was first charged at the Makadara Law courts last Thursday for issuing a bad cheque worth $200,000 to SMR Limited in October 2009.

He was remanded in police custody until Monday when he was brought back to face another charge of issuing another bad cheque worth $20,400.

"There are two people involved.  I have personally held meetings with them discussing on how they should be paid but now the tricky part is that one preferred a charge and another one waited until this week so that in case they [police] ask for further investigations, my client is held in police custody," his lawyer Christopher Kenyariri protested.

"What we are now asking for is a cash bail. This is a misdemeanour. This is a person who was actually not arrested. He presented himself when he was called, we are asking the court to grant him a cash bail," he told journalists outside the law courts.

Mr Ezra appeared before Makadara chief Magistrate Martin Muya who asked the lawyer to give a brief biography of his client.

"Who is the client, can you tell us a little about him?" the Magistrate asked.

"Your honour, my client is right there. He is a Ugandan who is an international businessman. He has property both here in Kenya and Uganda," the lawyer said of the flashy billionaire who sat pensively in the dock.

"He is a businessman of unquestionable character and will always appear in court whenever he is required to," he added.

The magistrate ordered that the businessman to deposit Sh4 million in cash to secure his release or a bond of Sh6 million with a similar surety until March 7 when the case will be mentioned.

His lawyer later told journalists he had managed to secure his client\’s freedom. "As we speak Mr Ezra is a free man," the lawyer told Capital News.

Mr Ezra is the founder of Ezra Track Team Board a Kampala-based sports philanthropic financing and talent search agency.

He is known for his donations towards sporting causes in his home country.

Mr Ezra is not new to controversies.  In September last year, he displayed wads of $3 million (Sh240 million) to prove that he was not broke when he was accused of being on the run over debts in Uganda.

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