Suspect Remanded Over $150,000 Gold Export Scam

By Peter Luzinda | March 5, 2026

The Makindye Magistrate’s Court has remanded a suspect accused of orchestrating a fraudulent gold export deal that allegedly defrauded a Malaysian businessman of USD 150,000 (approximately Shs551 million).

Ssentumbwe James appeared before court on multiple charges, including obtaining money by false pretence, conspiracy to defraud, forgery, and conducting mineral refining and trading without a valid licence.

According to the prosecution, the accused, together with an accomplice identified as Kibuye Adams Yawe who is still at large, allegedly deceived Malaysian national Kon Kin Kheong into sending the money in January 2026.

The suspects reportedly claimed the funds were required to facilitate the export of 50 kilograms of gold to Dubai.

Investigators, however, say the transaction was fraudulent and that the promised gold shipment never existed.

Court heard that Kibuye allegedly used a forged State House identification card identifying him as a political mobiliser in an attempt to convince the victim that the deal was genuine.

Authorities suspect the fraud may involve a wider network of individuals. Investigations have now extended to persons linked to Hey Transporters and Logistics, a company located in Lweza–Lubowa, Wakiso District, where an unlicensed gold refining and processing operation is believed to have been running.

Prosecutors informed court that efforts are ongoing to track down Kibuye and other suspected accomplices connected to the scheme.

The court ordered that Ssentumbwe be remanded until March 6, 2026, when the case will return for mention as investigations continue.