BACK TO JAIL: Why Court of Appeal Upheld Former NSSF Boss Jamwa’s 12-Year Jail Term
COURT OF APPEAL UPHOLDS DAVID CHANDI JAMWA SENTENCE: The Court of Appeal has upheld a 12-year jail sentence handed to former NSSF managing director David Chandi Jamwa.
BACKGROUND TO JAMWA NSSF CASE
The Anti-Corruption Court handed Jamwa the sentence in 2010 after convicting him of causing financial to NSSF.
Jamwa had sold NSSF bonds to Crane Bank before their maturity dates between September and November 2007.
In Jamwa’s transaction with Crane Bank (which was sold to DFCU), NSSF lost Shs 3bn.
Found guilty, court jailed Jamwa for 12 years and barred him from holding public office for a decade.
But Jamwa would appeal the sentence in the Court of Appeal.
COURT OF APPEAL RULING ON JAMWA CASE
On Thursday, three justices of the Court of Appeal – Steven Kavuma, Kenneth Kakuru and Opio Aweri — upheld the anti-Corruption Court’s ruling.
“We find that he had reason to believe his act would cause financial loss but went ahead and sold the bonds below the guaranteed price causing a financial loss to government. ”
“We find no merit in the appleal and therefore dismiss it.”