I fund Museveni – arrested Development Channel boss, Charles Lambert claims
I fund Museveni – arrested Development Channel boss, Charles Lambert claims
After abruptly closing Development Channel’s operations and selling off the company’s office properties in Kitintale and Bukoto, Charles Lambert, the company’s chairman talked to Matooke Republic’s Alex Taremwa about his next move and why the company failed.
Perhaps one of the most controversial schemes of the modern times, Development Channel’s model of selling computer tablets and smartphones at astronomical prices has been questioned by both the government and private sector.
As a result, the company sold off all their assets and allegedly acquired land in Kiruhura district to construct a phone, tablet and computer manufacturing company. In addition, all the company’s staff who Lambert says were over 3,000 have been laid off after over three months of no pay.
According to the police, Lambert has accumulated over Shs500m in arrears owed to not only Development Channel staff but also to the customers who bought the tablets in hope of a monthly dividend of $100 (Shs374,645), service providers such as drivers who owe the company over Shs200m and brand ambassadors. Lambert at Jinja Road Police Station after following his arrest on Tuesday.
According to the police, Lambert has accumulated over Shs500m in arrears owed to not only Development Channel staff but also to the customers who bought the tablets in hope of a monthly dividend of $100 (Shs374,645), service providers such as drivers who owe the company over Shs200m and brand ambassadors. Lambert at Jinja Road Police Station after following his arrest on Tuesday.
When he first arrived in Uganda, Lambert says that he went to the Uganda Investment Authority (UIA) and outlined his Uganda Poverty Alleviation Plan (UPAP) in which he was to sell computer tablets and give customers lifetime returns.
“When the thing became extremely popular, people called from the Capital Markets Authority (CMA) and told us we cannot offer people returns. I told them that we had already sold tablets and pleaded with them to find a way to harmonize the issues but they insisted that I shut down the program,” Lambert said.
He added that he pleaded for a grace period in order to allow his agents countrywide and was given until March 10. But no sooner had he, left the meeting that Jinja Road Police served him a criminal summons for fraud.
“I said tell them I am not gonna come. I told them to come and get me from my house and get me and to expect some causalities. They didn’t come. When my wife went there, our company was cleared of any fraud. In fact, the officers said they didn’t understand CMA’s beef against us,” he narrated.
After the police and the Criminal Intelligence Division failed to stop Development Channel, Lambert alleged that CMA then went to the Financial Intelligence Authority (FIA) and froze the company’s account. This was the beginning of the fall.
“They knew this would hurt us the most because this is how we paid our salaries to the youths. When the people didn’t get their salary for three months, things fell apart,” he noted
“When the thing became extremely popular, people called from the Capital Markets Authority (CMA) and told us we cannot offer people returns. I told them that we had already sold tablets and pleaded with them to find a way to harmonize the issues but they insisted that I shut down the program,” Lambert said.
He added that he pleaded for a grace period in order to allow his agents countrywide and was given until March 10. But no sooner had he, left the meeting that Jinja Road Police served him a criminal summons for fraud.
“I said tell them I am not gonna come. I told them to come and get me from my house and get me and to expect some causalities. They didn’t come. When my wife went there, our company was cleared of any fraud. In fact, the officers said they didn’t understand CMA’s beef against us,” he narrated.
After the police and the Criminal Intelligence Division failed to stop Development Channel, Lambert alleged that CMA then went to the Financial Intelligence Authority (FIA) and froze the company’s account. This was the beginning of the fall.
“They knew this would hurt us the most because this is how we paid our salaries to the youths. When the people didn’t get their salary for three months, things fell apart,” he noted
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