Police have dismissed press reports that Sudhir is being investigated over acquisition over matters relating to Crane Bank and his businesses.
This comes days after the Authorities at the Internal Affairs Ministry said they will be deporting 11 employees of Kampala businessman, Sudhir Ruparelia for working in the country without work permits.
Their threat came a day after 40 foreign nationals working for the city businessman were arrested in a number of his companies around Kampala.
But police spokesman, Mr Andrew Felix Kaweesi, said the arrests were not in connection with any investigations on Mr Ruparelia.
“The case of the arrests of his employees was done by the Directorate of Immigration and Citizenship for illegal stay,” Mr Kaweesi said.
There were also allegations that the Central Bank and police were investigating former Crane Bank top managers, including Mr Ruparelia, for the bank’s owes.
“The Central Bank regulates and supervises these banks. If there was any criminal element, they would have informed the Directorate of Criminal Investigations, but the Central Bank has brought no case or complaint Mr Ruparelia to the police,” Mr Kaweesi said.
The Central Bank is carrying out a special audit on performance and general operations of Crane Bank, which was the fourth largest bank in the country, to understand what cause the problems that led to under capitalisation yet it was considered to be one of the best performing banks in the country.
The report has not been released to the public yet but sparked suspicion that police had been instructed to investigate former managers of Crane Bank.