For those who know Claver Mugabo, he started way back as a simple employee who worked for a businessman named Kazoora who had a cleaning company.
Kazoora ran out of cleaning contracts due to his relationship with Gen Kayumba Nyamwasa. Mean while, an always smart looking Claver Mugabo was spotted by Ibingira through his wife, because their wives are both genocide survivors. It is through this contact that Claver Mugabo explained to Gen Fred Ibingira how cleaning is an excellent business with clean cash which doesn’t attract any noises.
They decided to open a cleaning company and Claver Mugabo was made the Managing Director of this cleaning company which was 100% owned by Gen Fred Ibingira. The company was called Trustco, and it was able to win all big contracts in Rwanda.
For example, TRUSTCO was given the contract of cleaning State house – Presidence office, Ministry of defence, king faisal hospital, BCDI, Serena…. etc, the dual worked together, made clean and excellent money in cleaning business.
After realising their is untapped cash in cleaning, Gen Fred Ibingira and Clever Mugabo decided to go into production of cleaning materials and changed the company name to Trust Industries; this is when they decided to buy Socobico an old factory that produced toilet paper and sanitary pads.
At this time, Socobico company was of interest to Gatera Egide, as he wanted to buy the company, he got a call from Gen Fred Ibingira advising him to drop his interest in this company.
As Claver Mugabo’s business profile started growing, in 2010, during the sham presidential campaign, Byusa Marcel, criminal Paul Kagame’s nephew introduced Claver Mugabo to Jack Kayonga who was the Managing Director of BRD (Banque Rwandaise de Développement/Development Bank of Rwanda) and sealed the deal to buy Socobico.
Claver Mugabo first received a loan from BRD of around 400 million Rwanda francs to buy Socobico. Later, in 2013, Claver Mugabo got another loan from the same bank of $3 million to boost his business and in 2016, the same bank loaned $4 million to finance a new business project.
Clever Mugabo’s business started facing difficulties and servicing these huge debts started becoming impossible. Clever Mugabo had diverted all these huge loans on other projects rather than those projects shown to the banks during the process to acquire these loans.
According to this source, this year, BRD (Banque Rwandaise de Développement/Development Bank of Rwanda) started facing liquidity problems, and its management started hitting had to bank’s big borrowers especially loan defaulters. TRUSTCO/Socobico (Trust Industries) being among loan defaulters, BRD decided to collect the loan payments directly from TRUSTCO/Socobico bank accounts.
Unfortunately, TRUSTCO/Socobico was not even making $10,000 a month. As BRD coffers were drying up due to shortage of liquidity and needed the help from Rwanda’s central bank, that is when the case of TRUSTCO/Socobico escalated up to criminal Paul Kagame who asked for an investigation to be done by his trust blue eyed boy – assassin Dan Munyuza.
On Monday, 19th/11/18, as criminal Paul Kagame landed from 9 days of roaming around the world, assassin Dan Munyuza welcomed him with his findings about Clever Mugabo’s business dealings. The IGP Dan Munyuza told his criminal boss that, Claver Mugabo didn’t do or follow the initial business plan of which he presented to BRD bank.
IGP Dan Munyuza found out that Claver Mugabo sent 3 billions to Hong Kong to buy machines which were to transform trees into paper as noted in his business plan (paper factory). However, the 3 Billion Rw Francs sent to Hong Kong didn’t buy these machines, instead the money was laundered to USA to buy houses. And IGP Dan Munyuza’s report came to a conclusion that these houses are both owned by Gen Fred Ibingira and his business frontman Claver Mugabo.
IGP Dan Munyuza also found out that, all these scams happened with the help of Alex Kanyankole, the former managing director of BRD, who’s languishing in criminal Paul Kagame’s dungeon on different cases.
Currently, Claver Mugabo and his behind the scene boss – Fred Ibingira don’t own TRUSTCO/Socobico (Trust Industries) and the assets of this company. According to this source, the prospect of arresting Claver Mugabo and Gen Fred Ibingira are high, IGP Dan Munyuza is preparing their cases.
Criminal Paul Kagame has instructed IGP Dan Munyuza and the newly appointed head of reserved forces – Maj Gen Aloys Muganga to conduct a thorough auditing of business accounts on companies run by reserved forces which was being head by Gen Fred Ibingira, until he was unceremoniously sacked on 20th/11/18.
TOUGH DAYS A HEAD FOR FRED IBINGIRA AND AL.
Gakwerere Rpf
