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Uganda's richest family sues for $225 million over seized bank
Original: Uganda's richest family, the Ruparelias, sue for $225 million over seized bank
The Ruparelia family, Uganda's wealthiest, has filed a lawsuit seeking $225 million in damages over the seizure of one of their banks. Sudhir Ruparelia built a business empire spanning banking, property and hospitality, and the case revives a long-running dispute with regulators over Crane Bank, which was placed under state control in 2016 and later sold. The outcome could test protections for investors in Uganda's banking sector.
Why now: The high-stakes legal battle between Uganda's most prominent business family and the state is a major regional financial story
Ruparelia familySudhir RupareliaUgandaCrane Bank
Evidence
- Uganda's richest family, the Ruparelias, sue for $225 million over seized bank · Billionaires.Africa
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