City lawyer Timothy Masembe of MMAKS Advocates has been summoned to Parliament to interface with the investigative committee of parliament- COSASE on Tuesday afternoon.
The directive came after elusive Masembe snubbed the committee which sat in the morning having delegated others lawyers who were kicked out by the angry legislators.
Masembe was paid over shs 900 million in the sale of Crane Bank to DFCU, a deal that sparked off debate and subsequently compelling Parliament to commission an investigation into closure/sale of 7 commercial banks.
Masembe’s representatives, however, failed to avail vital documents as requested by the committee.
COSASE’s Abdu Katuntu ordered them to return at 2pm with all supporting documents and also summoned lawyer Masembe to appear in person.
MMAKS Advocates were paid Shs914, 272,722 for legal advice during Crane Bank intervention, resolution and advice on the sale of CBL assets and assumption of liabilities.
The firm would further be paid extra Shs3 billion as 5% commission monies recovered from Crane Bank shareholders.
The MPs contend those payments were exaggerated to benefit some Central Bank senior staff involved in the sale of Crane Bank.
