Businessman Remanded in Shs 13 Billion Gold Scam Targeting Dubai Investors

Businessman Charged in Dubai Investors’ $3.5 Million Gold Fraud

A businessman has been remanded to prison over his alleged involvement in a multi-billion gold

Ex-MD of gold firm Muhammed Ali remanded over Sh13b scam as State House Anti-Corruption Unit bites

Kampala, UGANDA — The Anti-Corruption Court in Kampala has remanded Muhammed Ali, the former managing director of Duck Hunters Security Services, over his alleged role in a fake gold deal that cost investors $3.5m (about Sh13b). Ali, a Ugandan of Somali origin, was arrested on April 9, 2026, by the State House Anti-Corruption Unit (SHACU) working with the Criminal Investigations Directorate (CID), six months after the investors reported losing m…

Fraud Busted: Businessman Muhammad Ali Remanded Over UGX 13 Billion Fake Gold Scam

By Spy Uganda A businessman, Muhammad Ali, has been remanded by the Makindye Magistrates Court over allegations linked to a multibillion-shilling fake gold deal involving foreign investors. Ali was arraigned following investigations led by the Inspectorate of Government in collaboration with the Criminal Investigations Directorate (CID) Uganda and the Office of the Director of Public…

Businessman Remanded in Shs 13 Billion Gold Scam Targeting Dubai Investors

Prosecution further alleges that Ali later convinced the investors to engage in a second deal involving 30 kilograms of gold, purportedly sourced from a military officer, at a cost of USD 2.4 million. The post Businessman Remanded in Shs 13 Billion Gold Scam Targeting Dubai Investors appeared first on The Source Reports.