B-club shareholders lost Rwf 200m

Emile Havugimana and Theogene Kubwimana, who jointly owned 50 percent of the shares in B-Club, say that they have lost about Rwf 200 million as a result of their dealings with Barry Ndengeyingoma alias Ndengeye, who owned the other 50 percent.
Police and onlookers help to put out the fire at KL house in Nyarutarama (File photo)
Police and onlookers help to put out the fire at KL house in Nyarutarama (File photo)

Emile Havugimana and Theogene Kubwimana, who jointly owned 50 percent of the shares in B-Club, say that they have lost about Rwf 200 million as a result of their dealings with Barry Ndengeyingoma alias Ndengeye, who owned the other 50 percent.

In a telephone interview, Havugimana said that they invested in the business when Ndengeyingoma wanted to upgrade the club from a bar to a night-club.

However, things started getting nasty when their business partner accumulated debts that he could not pay back, leading to a crisis. Havugimana said that they lent him money to bail him out of his financial hardship, which included a two-year house rent for KL house, which accommodated B-Club and Ndengeye’s residence.

Ndengeye was also arrested for issuing bouncing cheques and upon his release, borrowed more money from his partners to pay his debtors.

“He failed to refund our money, and when we counted how much he owed us, we found out that it was equivalent to the 50 percent shares he owned in the club,” Havugimana said in a telephone interview.

He went on to say that Ndengeye had promised to buy their shares in the club and also pay back the money he owed them.

“But in the process the club was set ablaze and since then, Ngengeye went missing.”  The duo, suspected foul play, took their case in court accusing Ndengeye of being behind the inferno.

Ndengeye who is currently wanted by police, is believed to be in Goma, DRC where he opened a night club, also called B-Club.

The flamboyant businessman, who is best known for his expensive fleet of cars which include stretch limousines and hummers, rose to fame in 2006 when he returned to the country after spending 12 years in Europe.

A Belgian court had previously sentenced Ndengeyingoma to three years in jail for crimes which include counterfeiting of foreign currency, fraud, money laundering, forgery and use of forged passport and public use of false names. 

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