Man remanded over Shs554 million gold scam targeting Malaysian investor
Authorities also informed court that investigations are ongoing to track down additional suspects believed to have participated in the operation.
The Makindye Chief Magistrate’s Court has remanded a Kampala-based suspect accused of defrauding a Malaysian investor in a gold export deal worth USD 150,000 (approx. Shs554 million).
The suspect, identified as Ssentumbwe James, appeared before court on multiple charges including obtaining money by false pretence, conspiracy to defraud, operating an unlicensed mineral refinery, and forgery.
According to the prosecution, Ssentumbwe allegedly worked together with Kibuye Adams Yawe, who is currently on the run, to fraudulently obtain the money from Kon Kin Kheong, a Malaysian national.
Court heard that the alleged fraud occurred in January 2026 in Muyonyo, Makindye Division, where the suspects reportedly convinced the investor that the funds were required to process export documentation for 50 kilograms of gold destined for Dubai.
Prosecutors further told court that the scheme relied on Kibuye’s alleged display of influence and authority. Investigations revealed that Kibuye was found with a forged State House identity card claiming he was a political mobiliser, which was allegedly used to gain the victim’s trust.
Authorities also informed court that investigations are ongoing to track down additional suspects believed to have participated in the operation.
Some of the individuals being investigated are reportedly connected to Hey Transporters and Logistics, located in Lweza–Lubowa in Wakiso District, where the suspects are believed to have been conducting illegal gold processing activities at an unlicensed facility.
Ssentumbwe was remanded to prison until March 6, 2026, when the case will return to court for further proceedings.
