Rwamuganza who is also the Rwandan secretary to the treasury is facing various charges including misuse of public property and complicity in flouting tendering procedures.
They are all charged with three counts of felony, misappropriation of public funds, unlawful public procurement and conspiracy to commit fraud.
According to the prosecution, the defendants allege that they procured and sold a commercial building to the government of Rwanda at Frw 9,850,000,000 yet the value of the said commercial building had been established at Frw 7,600,000,000. (1 USD = 950 Frw)
The house was also reportedly purchased without the knowledge of the Rwanda Public Procurement Authority, even before negotiations between the suppliers and the bidders were carried out, it said.
According to the Rwanda's National Public Prosecution Authority, investigations and subsequent arrests are based on audits conducted this year, which unearthed fraudulent acts through which huge amount were embezzled.