Beleaguered businessman Patrick Bitature has distanced himself from reports that sucked tycoon Sudhir Ruparelia into his financial predicament saying the richest man in Uganda is and has never been interested in his properties.
Several of Bitature’s associates have in the recent past clandestinely pushed a narrative into the public domain that his longtime friend Dr Sudhir has been plotting to take Bitature’s wealth.
They concocted social media banners aiming at linking Sudhir to Vantage Capital- the South African money lenders.
Vantage Capital demands Mr Bitature $34 million arising out of a $10 million credit facility he acquired in 2014.
On Monday, a section of the public and business community applauded Bitature for taking an appropriate position by acknowledging the loan unlike in the past when fell for his lawyer’s “monkey tricks” saying the loan was a mistake.
Instead Bitature’s lawyer working with other unscrupulous individuals blamed his woes on Sudhir saying he was targeting his properties, a claim Mr Sudhir vehemently scoffed at.
“I would like to assure all of you that I do not think anybody in Uganda & in particular my long time friend Sudhir Ruparelia is after my property,” Bitature said on Tuesday.
He said all those pushing the narrative were aiming at eroding his and Sudhir’s reputation before the public.
“Unfortunately, this is part of a deliberate smear campaign aimed at eroding both his & my reputation in the eyes of the public,” he said.
Those that have followed Bitature’s motivation speeches had been shocked to learn that he was involving Sudhir in his financial woes, a man he previously praised for immensely contributing to his mentorship.
“I want to thank all my colleagues, business partners, staff, and other Simba Group stakeholders for the warm responses and feedback after I made my public statement about the dispute with one of our business partners, Vantage Capital,” he further said.
On Monday Bituture explained in detail how he acquired the loan and why he had delayed to pay.
Open link… https://trumpetnews.co.ug/bitature-makes-u-turn-acknowledges-vantage-transaction/
