J.K Holdings drags CMA’s Kiryabwire to Law Council.

By Joseph Lubandi

Posted on May 19, 2018

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J.K Holdings has petitioned the Uganda Law Council over Capital Markets Authority’s Angella Kiryabwire for bleaching the professional ethics and the non discourse agreement.
In the letter dated May 18. 2018 from Tumukunde & Luwaga Co. Advocates and signed by Tumukunde N, J.K Holding accuses Angella Kiryabwire for leaking their confidential information to their competitors.
According to the letter, Ref/ 18/TL/05, J.K Holdings Limited sought to establish a Collective Investment Scheme through CMA, upon which Kiryabwire requested the company lawyer to furnish the authority with a checklist of all documents needed before approval.

The letter says that though Kiryabwire and JK. Holdings signed a Non-Disclosure of Information Agreement to third parties before the elapse of six years unless ordered by a competent court, she went ahead and shared the information with Stanlib Uganda Limited who runs a collective investment scheme called Money Markets Fund and IRSTA Limited.
JK. Holdings’ lawyer explained that they had mail correspondences between Kiryabwire, the Chief Executive Officer of Standlib Limited Mrs. Annette Rumanyika Mulira and Lydia Muleembe of IRTSA Limited.
“On August 12, 2018 at 11am, Mrs. Angella Kiryabwire sent all our documents we shared with her to [email protected] after a few minutes [email protected] forwarded all the documents received to [email protected] this is the personal email of Lydia Muleembe the CEO of IRSTA Limited,”
As a result to sharing this information our software servers have been hacked into, several messages have been sent to our prospecting investors discouraging them from investing with us. “Our prospecting agents in Uganda who had agreed to work with us have been contacted and told not to work with us because we are a fraudster. This has greatly damaged the reputation of the company and its prospecting business,” the letter adds.
“The location of our intended premises which was among our Trade secrets disclosed to Mrs. Kiryabwire has been taken over by our competitor IRSTA Limited.”
According to J.K Holdings, the application to operate a Collective Investment Scheme by IRTSA was granted within one week. The company claims that though they had filed their application over one year ago, they had received no explanation from CMA as to why their application had taken that long.
“The actions of Kiryabwire contravene Rule 7 of the Advocates Professional conduct regulations SI-267-2.”The letter states.

“We disclosed this information to Mrs. Kiryabwire trusting that she is an advocate of the High court who respects Advocates Professional conduct regulations. The information we disclosed included; the unique products the company was to bring on the market, sources of funding, marketing strategies, trade secrets, branding materials, contingent agency contracts, prospectus and passwords to soft wares executed between our client and prospecting investors.”The letter explains.
Now that Tumukunde &Luwaga CO. Advocates on behalf J.K Holding Limited has filed a complaint against Angela Kiryabwire head legal department Capital Markets Authority, shows that Angela Kiryabwire Kanyima is no stranger to controversies.
Angela Kiryabwire superintended over the money bonanza in the 74 Km Katosi road scandals where Shs24billion was dished out to a non existing US firm without a bank guarantee.
Kiryabwire as Chairperson of the Uganda National Roads Authority (UNRA) Board failed in her oversight role and tax payers’ money was lost.

The story was first published by Uganda’s leading daily; the New Vision how UNRA through the Housing Finance Bank paid sh24.7b to a ‘ghost’ firm without a bank guarantee.
Kiryabwire moved and sacked UNRA managers except herself. The Minister for Works and Transport later sacked Kiryabwire and her entire board from overseeing UNRA and replaced her with an efficient and confident former State Minister for Finance; Fred Jachan Omach.

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via: BigEye