UGANDAN TYCOON RELEASED

UGANDA tycoon Michael Ezra Mulyowa has been freed by a Kenyan court after he paid a Ks4m (about sh116m) cash bail. Ezra, who was last week charged before Makadara Court for issuing a bad cheque of Ksh16m to a local company, SMR Ltd, re-appeared before chief magistrate Martin Muya yesterday and applied for bail.

Ezra’s lawyer Christopher Kenyariri told the court that: “Ezra is a man of integrity since he presented himself before the investigation officers. Therefore, he should be allowed a reasonable cash bail in accordance with the new constitution. It’s a bailable offence, the case can be heard when he is out,” Kenyariri argued.

Kenyariri told court that his client Ezra is an international businessman dealing in real estate and other business in Kenya. “My client has property in Nyari within Nairobi, where he presented himself before authorities for arrest. He also has properties in Karen,” he said.  Ezra’s wife, Grace Mulyoowa expressed relief upon her husband’s release. “The whole experience has been tough and memorable,” she said.

The hearing of the case was fixed for May 10, but Ezra will have to re-appear before court on March 7.
Last week, Ezra was charged and remanded after he denied charges of issuing a false cheque.
Court was told that Ezra on October 20, 2009, at Ecobank on Muindi Mbingu Street, issued a false cheque of $200,000 to SMR Limited, knowing he had insufficient funds in his bank account.
Ezra is also wanted in Uganda over charges relating to fraud and issuing false cheques.
He allegedly issued a false cheque worth $550,000 (about sh1.15b) to a software engineer.
Ezra had eluded arrest for sometime. Late last year, he sneaked out of Uganda, but was arrested in Kenya last week.

UGANDAN TYCOON DETAINED IN KENYA

A Ugandan tycoon wanted for fraud has been denied bail by a Kenyan court. Mr Michael Ezra, the mysterious Ugandan tycoon who was linked with an attempt to buy English club Leeds United, was remanded in custody until Monday.

He was arraigned at the Makadara law courts where the prosecution opposed bail on grounds that the police were yet to finalise investigations. Mr Ezra was charged with drawing a bad cheque worth $200,000 (Sh16m) to a Kenyan company, SMR Ltd in 2009.

He allegedly drew the cheque on October 20, 2009, at Ecobank Towers on Muindi Mbingu Street in Nairobi, knowing that his account had insufficient funds.

Mr Ezra allegedly disappeared after drawing the cheque which prompted the company to drag him to court.

He was arrested Wednesday by Kenyan police who were effecting a warrant of arrest issued against the foreigner.

By Wednesday evening the tycoon was being held at the Gigiri police station and was scheduled to be arraigned in court Thursday. Nairobi Provincial Police boss Anthony Kibuchi confirmed that Mr Ezra had been arrested and was being held in custody."He was arrested and is being held because we have a warrant of arrest issued by the court. He will appear in court tomorrow (Thursday)."

"The cases involves fraud and obtaining money from people by false pretences,” Mr Kibuchi said.

Ugandan police once issued a warrant of arrest for him following his failure to clear multiple debts and allegedly issuing two bad cheques worth UShs2 billion.

According to Ugandan police, Mr Ezra issued false cheques to a Mr Frank Katusiime and a Dr Charles Mushabe while at the same time failed to pay Uganda Revenue Authority (URA) over UShs1.2bn in taxes.

Upon receiving the news of Mr Ezra’s arrest, the Uganda police are digging up more fraud cases that may help them extradite him to the country.

The Special Investigations Unit boss, Ms Grace Akullo, said they still have cases which they are investigating and the Director of Public Prosecutions ordered them to bring them forward.

“Some of the cases hit a snag because of the court orders but we have other cases against him which are still pending that can help us in this case,” Ms Akullo said.Michael Ezra is the man who tried to buy English premier league club Leeds club.

Reports by Richard Munguti, Dominic Wabala and Monitor