Investor loses over Shs13b in alleged gold export scam

KAMPALA — A foreign investor was allegedly defrauded of more than Shs13.4 billion in a gold transaction involving a Uganda People’s Defence Forces (UPDF) officer and two other suspects, according to investigators.

Major Nicholas Ntakirwa, also known as Gen James; Mohammed Ali, a director at Duck Hunter Security Company Limited; and businessman Trevor Besigye appeared before the General Court Martial on charges of obtaining money by false pretences and scandalous conduct.

The three suspects were remanded until November 16, 2026, following their arraignment by the Anti-Corruption Unit of State House, working alongside the Criminal Investigations Directorate and the Office of the Director of Public Prosecutions.

Investigators allege that the suspects obtained 2.4 million US dollars, approximately Shs13 billion, from Gafar Ibrahim Mohammed Elsawi, an investor associated with MAPSCO General Trading LLC, on September 22, 2025.

The money was allegedly paid at the offices of Duck Hunter Security Company Limited in Muyenga, Makindye Division, Kampala, after the suspects purportedly represented that they were selling and arranging the export of 30 kilogrammes of gold to Dubai, United Arab Emirates.

However, investigators allege that the representations were false and that the suspects intended to defraud the investor.

The alleged scheme reportedly involved a second payment a week later.

On September 29, 2025, the suspects allegedly obtained an additional 120,000 US dollars, equivalent to more than Shs500 million, from the investor by claiming that the money was intended for payment to the Commissioner General of the Uganda Revenue Authority.

The total alleged payments amounted to 2.52 million US dollars, or more than Shs13.4 billion, based on the approximate Uganda shilling equivalents provided by investigators.

Ntakirwa is a military officer attached to the Directorate of Operations under the UPDF Land Forces. The allegations also include conduct said to violate the standards expected of members of the Defence Forces.

The suspects allegedly acted alongside other individuals who remain at large.

The case involves allegations of obtaining money through false representations in a transaction involving a substantial quantity of gold and a proposed international export.