A Dubai-based businessman has allegedly been defrauded of US$4 million in a fake gold deal involving a Ugandan company, with police arresting 16 suspects and uncovering evidence pointing to a wider gold fraud syndicate.
The Uganda Police Force said the businessman lodged a complaint in July 2025, alleging that Asiimwe Moses and his accomplices, operating under Real Sunnex Ltd, fraudulently obtained the money from him through a gold transaction that turned out to be bogus.
But investigators say the alleged fraud did not end with the first US$4 million.
According to police, further engagement with the complainant revealed that the same suspects were allegedly preparing to extract another US$4 million from him using similar fraudulent claims.
Security teams moved in before the second payment could allegedly be made, mounting an intelligence-led operation that resulted in the arrest of 16 suspects, including Asiimwe, whom police identify as the prime suspect.
Those arrested are Mibenge Rogers, Kiwanuka Edward, Kajubi Geofrey, Songole Thiery, Ajambo Bright, Mayuku Glody Mata, Nakahosa Soleina, Masaba William, Walusimbi Joseph, Ampurire Anitah, Amani Patrick, Mugoya Christian, Kagarura Dicken, Leta Grace and Mbasa Taboma.
Fake gold, cars seized
Police said the operation also exposed physical evidence allegedly linked to the fraudulent operation.
Security teams recovered suspected fake gold, incriminating documents and eight motor vehicles believed to have been used to facilitate the alleged criminal enterprise.
The revelations have also triggered an internal reckoning within the Uganda Police Force after investigators discovered that four police officers had abandoned their assigned duties and allegedly hired themselves out as guards for the suspects.
Police said the officers had withdrawn from their respective beats without authorisation and deployed themselves at an illegal gold refinery, where the fraudulent transactions were allegedly being facilitated.
The four officers were identified as:
- PC Kulutu Ayubu
- PC Emorut Razak
- PC Waiswa Benon
- PC Waiswa Siraj
Their alleged involvement has added a troubling dimension to the case, with police describing their conduct as a grave breach of discipline and professional conduct.
Two officers recommended for dismissal
The four officers appeared before the Police Disciplinary Court on August 29, 2026, where they were tried and convicted on disciplinary charges.
According to police, PC Kulutu Ayubu and PC Waiswa Benon were recommended for dismissal, while PC Waiswa Siraj and PC Emorut Razak were recommended for discharge.
The recommendations now place the officers’ careers in jeopardy, while they also face possible criminal prosecution alongside the other suspects.
Police said the four officers and the other 12 suspects arrested during the operation are being processed for criminal trial in the courts of law.
The distinction between the disciplinary proceedings and the criminal case means the officers could face consequences on two fronts—internal sanctions for their conduct as police officers and prosecution over their alleged involvement in the wider gold fraud operation.
Hunt for missing $4m
Police said the investigation has not been closed, with detectives now pursuing the wider network behind the alleged scheme.
Investigators are seeking to establish whether there were additional accomplices, while efforts are also underway to trace and recover the US$4 million allegedly obtained from the Dubai businessman.
The case also raises fresh questions about the growing use of Uganda’s gold and precious-minerals sector as a vehicle for sophisticated financial fraud.
Police have warned traders and foreign investors dealing in gold to conduct thorough due diligence before committing money to dealers, companies or refineries.
The force urged members of the public to verify the legitimacy of gold dealers and processing facilities before entering into transactions.
The Uganda Police Force spokesperson, ACP Kituuma Rusoke, said the force remains committed to tackling misconduct within its own ranks while pursuing criminal networks operating outside the law.
The case is now expected to move from police investigations to the courts, where prosecutors will have to prove the allegations against the suspects.
