Masaka, Uganda | THE INDEPENDENT | Masaka Elders Savings and Credit Cooperative Society – SACCO Limited has lost at least 399.7 million shillings to fraud, a special financial audit has revealed. An audit report by Felbright and Company auditors read before the SACCO’s special general meeting convened in Masaka has revealed …
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Kampala, Uganda | THE INDEPENDENT | Ugandans and companies buying insurance policies will likely pay higher premiums after insurance companies discovered widespread fraud by hospitals and some customers in the medical insurance side. The increased premium cost is a direct impact of fraud in insurance with insurers …
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Kampala, Uganda | THE INDEPENDENT | Several hospitals face termination from serving clients who have health insurance policies after insurance companies accused them of fraud. This comes after The Uganda Insurers Association (UIA)-commissioned a fraud survey in 2018/19 financial year that found wide-spread cheating with hospitals putting in fictitious claims. …
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Kampala, Uganda | THE INDEPENDENT | Tension is high in the top leadership of Uganda Cooperative Alliance Limited –UCA amidst accusations of fraud, impersonation and abuse of office, among others. The tension climaxed on Monday morning when the UCA general secretary, Ivan Asiimwe forcefully broke into his office where he …
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Kampala, Uganda | THE INDEPENDENT | Kampala tycoon Shukla Babubhai Mukesh was last week charged with fraud and now his file has gone missing from police, reports say. Mukesh commonly known as Shumuk is the boss behind Shumuk Aluminium Industries and was facing 13 counts ranging from forgery, uttering false …
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Lagos, Nigeria | AFP | A 48-year-old man appeared in court on Monday accused of attempting to defraud people around the world of $20.5 million by pretending to be Nigeria’s First Lady. Julius Anyawu Uche was charged with 10 offences under cybercrimes legislation after scam emails were sent in the …
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a Lagos, Nigeria | AFP | When one of Africa’s richest men joined Twitter and posted his first tweet on May 11 this year, the fanfare in his native Nigeria was immediate. News that Femi Otedola had opened an account spread like wildfire and the billionaire head of Forte Oil …
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Rome, Italy | AFP | Italy’s competition authority on Wednesday said it was fining Apple and Samsung 10 and five million euros ($11.5 and $5.7 million) respectively for the so-called “planned obsolescence” of their smartphones. The ruling is believed to be the first against the manufacturers following accusations worldwide that …
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New York, United States | AFP | The US Securities and Exchange Commission on Monday laid charges over a fraudulent cryptocurrency fundraiser that boxer Floyd Mayweather and rapper DJ Khaled touted on social media. Neither celebrity is accused in the scheme which the SEC said raised more than $32 million from …
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New York, United States | AFP | A US federal judge on Wednesday sentenced troubled American rapper DMX, best known for his taunting song “Party Up (Up in Here),” to one year behind bars for tax fraud. The 47-year-old rapper and actor, real name Earl Simmons, pleaded guilty last November …
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The Independent Uganda: You get the Truth we Pay the Price