By Ivan Mwine
The police have arrested an employee of Movit Products Limited, a cosmetics company, for stealing Shs510,523,921 from his boss.
Although it is not yet clear how the yet to be identified man stole the money which was in denominations of Ugandan Shillings and US dollars, the police reveal that he was netted from a hotel in Ibanda District, where he was hiding with his loot.
The matter was revealed by AIGP Asan Kasingye, who tweeted pictures of the thief and the money he had stolen.
AIGP Kasingye said thus; “This evening, a team of @PoliceUg Flying Squad arrested a suspect from Ibanda, that stole cash $90,000 (95,234,751) from one of the Directors of Movit co. 27,700$ (317,449,170.00) and 97,840,000/= Ug shillings was recovered from a hotel room he had hired in Mbarara City.’
Movit Products Ltd is owned by city tycoon Simpson Birungi, an entrepreneur and the founder of Movit Products Limited (MPL).
He is also the current Executive Chairman, Board of Directors at Movit Products Limited, a leading cosmetics manufacturing company in Sub-Saharan Africa.
To-date, the company operates across eight African countries that include, Uganda, Kenya, Tanzania, Rwanda, Burundi, South Sudan, Zambia and Democratic Republic of Congo.
Birungi is a captain of the cosmetics industry and boasts over 20 years in the beauty and personal care industry, where he first started as an importer and now a leading manufacturer to a company whose growth production line stands at over 250 products.