Elvis Sekyanzi, a city businessman, avoided spending more days in jail after being released on Friday for failing to repay a business loan obtained from a creditor of Mash Investments Limited. (Elvis Sekyanzi – the owner of Silk Events – has been released from prison )
Elvis Sekyanzi Wavamunno was sentenced to Luzira prison last week for failing to pay a debt.
Elvis Ssekyanzi, Gordon Wavamunno’s son, was hauled into court in 2016 after accumulating the aforementioned debt from Mash Investment Limited.
He spent a week behind bars as his team and lawyers planned how to help him be released with a bail request.
The initial bail application hearing was denied in court because the court required him to pay at least a quarter of the debt.
He was then remanded to Luzira until Friday, when Court Bailiff Sarah Komugisha accepted Shs12 million of the Sh20 million bail for enforcing a court order.
“It’s extremely difficult to apprehend Sekyanzi. I obtained the warrant on June 1 and arrested the suspect near the end of the month. That is why, before he is released, he must pay my costs,” Komugisha insisted.
After paying the court bailiff’s costs, the Commercial Court released Sekyanzi from Luzira Prison. He was warned that if he did not pay the balance within the specified time frame, he would be arrested again.
Mash Investment Limited and Sekyanzi had agreed to establish, operate, and run a company called Liquid Silk, Bugolobi Limited, but Sekyanzi breached the contract by failing to return the $136,000 (approximately shs487m) given to him by Mash. (Elvis Sekyanzi – the owner of Silk Events – has been released from prison – Breaking news in Uganda)
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