Crime

Tycoon Emmanuel Lwasa Arrested in Fake Gold Scam

In the video that is making rounds, Emmanuel Lwasa is seen showing how the gold looks like and assuring people that his business is real and legal. In the same video, voices are heard saying that he has recently gone broke which somehow pushed him to the business.

Emmanuel Lwasa has been arrested for allegedly dealing in fake gold (File Photo)

KAMPALA, UGANDA: Masaka City Tycoon Emmanuel Kaweesi Lwasa popularly known as Lwasa has been arrested for allegedly selling fake gold, police confirmed on Friday.

According to Kampala Metropolitan Police Deputy Spokesperson, ASP Luke Owoyesigyire, the tycoon who lives a lavish lifestyle is alleged to have been dealing in fake gold which landed him behind the coolers.

According to Owoyesigyire, Lwasa is set to appear before the courts of Law facing charges which among others is the fake gold scam he has been running for years.

In the video that is making rounds, Emmanuel Lwasa is seen showing how the gold looks like and assuring people that his business is real and legal. In the same video, voices are heard saying that he has recently gone broke which somehow pushed him to the business.

After producing one of the biggest controversies of last year, Lwasa is at it again. This time, however, it is a serious case involving the selling of fake gold.

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His accuser, a one Jeff said that on the 2nd of December 2021, he had a transaction with Lwasa worth 60,000 US dollars. Lwasa was meant to deliver gold to him but instead sold him fake gold. The buyer said that he looked for Lwasa in vain till he came out clean and pledged to deliver the genuine product.

However, since then, he started avoiding Jeff’s entourage and phone calls. They however tracked him down and arrested him yesterday in Mityana.Consequently, Jeff added that all he wants is his money and will keep him locked up till he coughs it up.Jeff however said that Lwasa is broke these days and has lots of debts. This is why they sent him behind bars.

“We did a transaction with Lwasa on the 2nd of December 2021 worth 60,000 dollars. He was supposed to deliver gold to us but instead delivered fake products. When we realized it, we contacted him and he came out clean and promised to deliver the genuine product. However, since then, he has been hiding and dodging our calls. We were connected to him by someone who trusts him. Lwasa has also been in the business for long working with a company called TransEquator mines reason we trusted him.” Jeff said.

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However, it should also be remembered that this is not the first time Lwasa is alleged to be conning people as the same allegations have been levied before him over the same offense.

In February last year, blogger Isma Olaxess came up with these allegations but a few took him seriously saying he is just trying to look for relevance.


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