KAMPALA – The Former managing director of the National Social Security Fund (NSSF), David Chandi Jamwa has today returned to Luzira prison to serve his 12-year term which has been confirmed by the Supreme court for causing a UGX. 3 .1 billion loss to the fund in October 2007.
Jamwa’s bail has been cancelled following a majority decision of 3-2 justices who have upheld as legal the 12-year jail term that was handed to him by the Anti-corruption court in 2011 and confirmed by the Court of Appeal last year.
Justices; Eldard Mwangushya, Dr. Lillian Tibatemwa Ekirikubinza, and Paul Mugamba have ruled that after a careful re-evaluation of evidence, they have found no reason to tamper with the findings of then High court judge JohnBosco Katusi who convicted Jamwa of pre-maturely selling NSSF treasury bonds at a loss to the now defunct Crane Bank.
“After re-evaluation of the mitigating factors for the appellant, we find that the Court of Appeal legally sentenced the appellant to four years imprisonment for the offense of abuse of office and as a result, all the grounds of appeal fail and is hereby dismissed,” the justices ruled.
The three justices have stated that Jamwa single handily resolved to sell the bonds to a cheaper buyer (Crane Bank) after bypassing Standard Chartered Bank which was a primary dealer with NSSF and the one who would have rejected the transaction in order to give the bonds a few days to mature and collect their true value.
The justices have also upheld the 4-year jail term that the court of Appeal handed to Jamwa after convicting him of Abuse of office saying there is no law forbidding an appellant court to reach a guilty verdict and impose an appropriate sentence.
This is after the 3 justices explained that just like the Court of Appeal, they too have found no evidence to the effect that there was a collective decision by NSSF to pre-maturely sell the bonds or that the fund was in dire need of money for its managing Director to reach such a negligent decision well knowing it would result into loss of money.
However 2 other justices; Dr. Esther Kisakye Kitimbo and Jotham Tumwesigye did not agree with Jamwa’s conviction and sentencing to which they advised that the case should be taken back to the Court of Appeal to correct the errors made since two judges had ceased being part of the court three years later when the judgment was delivered.
Jamwa’s lawyer Mr David Mpanga told PML Daily after court that they had no other option for their client Supreme Court being the last appeal court, he has to serve the 12years.
Justice John Bosco Katutsi found Jamwa guilty of causing Shs 3.1 billion financial loss to NSSF in February 2011 by the Anti-Corruption court when he prematurely sold treasury bonds to defunct Crane Bank while he was the managing director.
However being dissatisfied with his decision, Jamwa runs to the Court of Appeal which also agreed with retired Anti-Corruption court that the act of Jamwa selling the government bonds held by NSSF to Crane Bank before their maturity dates, caused the Fund a financial loss to the government.
He then ran to the last court of appeal the Supreme Court which has also upheld both decisions of the lower courts.