For three years, Aravind Musunuru, the former managing director of Construction and Farm Equipment has been on the run.
Thank you for reading this post, don't forget to subscribe!What is strange is that around the time Musunuru went missing, the company suspiciously lost money and spare parts from its stores.
We have been told that billions of shillings disappeared from the company accounts under mysterious circumstances.
Sources at the firm told Bbeg Media that they suspect Musunuru used his position and company reputation to obtain money from clients as advances to supply machinery and spare parts and drew money from the company account to his account.
“Some of this money we have now established invested back in India and in other companies he opened in Uganda, Rwanda and Zambia,” an insider told Bbeg Media.
It is suspected that he could have sught sanctuary in India.
“Aravind forged accounts to deceive the other directors and diverted funds meant for URA (taxes) to personal use. This is why most of the CFOs failed to stay longer in the company as he used to blackmail and threaten them. The ones who agreed to his conditions stayed a bit longer,” our source said.
The company based on Lithuli Avenue in Bugolobi has since reported the matter to Jinja Road Police Station. The file number is CRB: 656/2024.
He is wanted to answer cases of theft contrary to section 237 and 244 of the penal code act of Uganda.
According to a police statement, between 2020 and 2024 Aravind stole Shs 843 million and $ 268,000. He allegedly provided fake stock tallies to give an impression of adequate service repair parts in the company warehouse while he worked with Junior staff to steal and sell the same.
Sources have told us that one night, his vehicle was seen on security cameras ferrying spare parts from the company warehouse in Bugolobi with the assistance of some junior staff.
“When the matter was reported to Jinja Road police post, he attempted to bribe the police to release the suspects. He also instructed one of his staff to lie that it was URA which had taken the stock by providing a stock list different from the list declared by URA,” the source said.
We have been told that Musunura was working in cahoots with some people at the compnay including a female Ugandan and an Indian.
This kind of theft has been going on for at least three years.