State House Anti-Corruption Unit, working closely with the Criminal Investigations Directorate, has arrested seven suspects implicated in a sophisticated fake gold scam that defrauded a Nigerian businessman of $70,000.
Senior Officer Bamwiine Muhorozi told the media that the suspects, operating through shell companies Legacy Refinery Limited and Emerod Agency Limited, promised to supply seven kilograms of gold to the victim, Mr. Mark Gbillah however the companies had no genuine gold stocks, and the deal was a well-orchestrated fraud.
The arrested individuals include a mix of Congolese and Ugandan nationals, holding key roles in the scheme—from supposed gold sellers to company representatives and clearing agents. The suspects are: Paluku Kisasi, Safari Akonkwa, Isaac Mpende, Abdul Madjid Kahirima, Mabwongo Prince, Kajjubi Tevin Kyome, and Tibasiima Barbra (alias Katushabe Sharon).
The breakthrough came after Mr. Gbillah reported the fraud promptly to the Anti-Corruption Unit. Leveraging this tip-off, authorities arranged a controlled meeting that led to the suspects’ arrest before they could extract further funds.
A search of the suspects’ premises in the upscale Muyenga area uncovered nearly 150 kilograms of counterfeit gold bars and imitation nuggets, revealing the scale and audacity of the operation.
“This case underscores the evolving tactics of fraudsters targeting investors and traders in precious commodities.While we have dealt with similar scams before, catching these criminals in the act prevented significant further losses.” Muhorozi.
He urged investors and the public to conduct thorough due diligence and engage with regulatory authorities before entering business transactions, emphasizing vigilance as key to preventing financial crime.
The suspects are currently awaiting formal charges in court as authorities continue to investigate potential links to other fraudulent activities.