Medard Kiconco falls into financial accident

The Drone Media has gathered that troubled businessman Medard Kiconco, who allegedly evicted 350 families from Lusanja in Kasangati Town Council, Wakiso District, is likely to commit suicide.

The story got from his close friends is that he processed and received a loan of $3m about sh11.1 billions from Equity Bank. Upon receiving the money, he gave sh500m to a Military General, who provided him soldiers to evict families, some of which he had compensated while the majority he did not.

The source assured The Drone Media that Kiconco’s force was the money, but which is a loan.  The loan was reduced by sh 1 billion in waste/ say in bribes. This is what is bothering Kiconco.  The one billion in waste plus the interest rate; the troubled businessman is likely to commit suicide.

Besides, Kiconco had targeted Chinese investors, who he had convinced to invest $10m, but the Chinese investors jammed after realizing the land was in contention; disputed. As you read this Kiconco is contemplating suicide. The Military General did his part, but Kiconco is left in trouble.

Remember the woman who sold Kiconco the contested land narrowly survived mob action at Nakawa High Court. The angry mob charged at Crispa Bitarabeho In April, 2019 when she turned up for the hearing of application in which, Medard Kiconco was seeking eviction order.

The mob members tried to undress Bitarabeho who was dressed in a short black floral dress with high heeled shoes accusing her of selling them land under contention plots 206 and 671 at Sekanyonyi in Mpererwe Kampala District.

The residents were enraged by the fact that Bitarabeho was walking Kiconco who was seeking orders to evict them from the land she sold them. Some of the residents were heard accusing Bitarabeho of double dealing. Close sources say that few people were paid while the rest were overlooked and forcefully evicted.