David Chandi Jamwa, the former managing
director of the National Social Security Fund
(NSSF) has been sent to Luzira Prison to serve his 12 year sentence.
Court of Appeal upheld the conviction handed to him by Anti-Corruption Court in 2011.
He was found guilty of selling the Fund’s bonds to Crane Bank hence causing a financial loss of age 3.1 billion.
But he challenged the verdict in Court of Appeal and since 2011, Jamwa has been on bail.
Court of Appeal deputy registrar Tadeo Asimmwe alerted Jamwa’s legal advisers to appear in Court on Monday for the verdict.
Justices Kenneth Kakuru and Rubby Opio
Aweri agreed with retired Anti Corruption court
judge John Bosco Katutsi in their judgement that Jamwa caused a financial loss of age 3.1 billion to NSSF.
“We are in agreement with trial judge that the sake of the bonds before maturity constituted a financial loss to the Fund. The appellant was much aware that the sale would cause a loss to NSSF but He sold them anyway,” ruled
the majority judges.
The Court noted that they could not reduse on Jamwa’s-12 year sentence since he had not requested so.
Jamwa was then returned to Luzira to serve his sentence fully.