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By Lucia Osborne-Crowley (November 3, 2021, 12:54 a.m. GMT) – A government-backed investment firm and two Ugandan bank executives have hit back at a $ 211 million fraud lawsuit, claiming they did not not aware of an alleged conspiracy to sell the assets of a rival bank for a pittance.

CDC Group PLC, which funds projects in developing countries and is owned by the UK government, told the High Court in a defense filed Friday that it was not responsible for an alleged plan to sell the assets of the Ugandan lender Crane Bank Ltd. less than they were worth.

CDC argued that it refused to give consent to the transaction at heart …

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