State to present 2,000 complaints against dunamiscoins directors

Kampala, Uganda | THE INDEPENDENT  |  The Law Development Centre court has granted extra time to State Prosecutors to adduce more than 2,000 complainants against the Directors of Dunamiscoins Resources Limited, a sham cryptocurrency company which closed recently in Uganda.   

The Directors Samson Lwanga, 37, and Mary Nabunya, 53, all residents of Makindye Ssabagabo in Wakiso District are currently in Luzira prison facing 65 counts related to obtaining money by false pretence.     

The two were part of a group that run an exchange which was operating a money lending business with branches in Masaka, Ndeeba, Mbale, Mukono, Lira and different parts of Kampala before it abruptly closed at the beginning of last month.  

Between February 14, 2018, and December 3, 2019, at the New Taxi Park in Kampala District, they allegedly conspired together to obtaining money by false pretence and with intentions to defraud. They allegedly obtained money ranging from 500,000 to 140 million Shillings from dozens of people by falsely pretending that they would invest and return the money whereas not.  

Records indicate that more than 1,000 customers from around the country had deposited money ranging from one million to 800 million Shillings, upon being promised a 40 per cent return on investment. The exchange also asked all those interested in seeking consideration for its crypto and blockchain-based jobs to pay an application fee of USD 5 (20,000 Shillings).

Up to 50 people had applied for jobs as marketing executives, cashiers, managers, and office assistants.   

At the time of its closure, the company had collected an estimated 10 billion Shillings from the public. The closure also came days after the Financial Intelligence Authority froze three bank accounts of the company found in Centenary Bank, Stanbic Bank and GT Bank.

Today, the Prosecutors led by Jackeline Kainobwisho told the court presided over by Senior Grade One Magistrate Roselyn Nsenge that she needs to first bring more than 2,000 complainants in the matter, before responding to a bail application by the two suspects.

Kainobwisho explained that she needed to gather some of the files of complaints which are still in various police stations, a request which was granted by the court and the accused persons were taken back to Luzira Prison until February 13, 2020.

Hundreds of complainants who congregated at the court, wailing on top of their voices, told URN that all they want was to have the accused persons jailed until they can refund the money that they collected from the various individuals.

A Statement issued in 2019 by Uganda Police indicates that the Directors of the Sham company were willing to refund the money as soon as the Financial Intelligence Authority lifts the seal on their bank accounts.

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URN