LIRA– At least 2,000 people in Lango, Acholi, West Nile and Bunyoro sub-regions have been conned in a dubious online deal by Power Forex International, a company with headquarters in Kampala, according to the information on its website.
A source revealed that the company lured the businessmen and women, mobile money agents and youths into the ‘investment’ dealings and conned them money worth Shs1.8b.
Three top officials of the online company identified as Herbert Nuwagaba, the company’s Chief Executive Officer [CEO], Rogers Tamale, and Moses Mutesesira have since been arrested and slapped with 60 charges of fraud and obtaining money by false pretense.
Nuwagaba, Tamale and Mutesesira are battling the charges before the Lira magistrate court in Lira City and the case has been adjourned to May.
According to Patrick Emot, one of the victims said, the hearing of the case is due to take off soon. The company claims it deals in forex trading, stock marketing, forex trade training, credit services, and marketing research and development.
In their website, it indicated that they help you to make the best out of your money without hard work through their investment and marketing plans.
They lured clients to invest in one of the packages and each investment lasted 60 days and you can withdraw with a commission of 50 percent. The clients are also entitled for a commission when you bring in more people to embrace the business.
Emot also said, the woe started when the officials shut down their office in Lira and could not be traced by the clients.
Secondly, they had taken months without giving people their commission.
“We became suspicious and reported the case to police for further action,” Emot said. Emot lost Shs30m which he saved to start a resounding business but changed his mind to invest in the company when contacted.
The North Kyoga regional Police Spokesperson Jimmy Okema recently said, more than 50 people had recorded complaints against the company.
Godwin Adriko, another victim from Arua said he is under pressure from members whom he lured into the business thinking that it was genuine and profitable business.
“Right now, I cannot travel back to Arua because people want their money and are threatening to gag me up if they lose their money,” he says.
He says, he invested Shs6m into the business and his first withdrawal was 30 percent which motivated him to build confidence to invest more.
Meanwhile, suspected relatives of the trio identified as Emmanuel Kashijja were last week arrested by the police after he attempted to bribe, Lira resident state attorney. Kashiija is a resident of Kireka ‘D’ Kira Town Council in Wakiso district.
According to the police, Kashijja carried Shs2m with the intent to bribe the state attorney, Peter Amola so that the fraud cases are dropped.
https://thecooperator.news/lira-city-based-asian-investors-defrauded-of-shs-9b/
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