Uganda Police Arrests one of Dunamiscoins Directors


December 11, 2019 12:27 am

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Ugandan police have arrested Samson Lwanga, one of the directors of the cryptocurrency pyramid scheme Dunamiscoins Resources Limited. According to the report, the police arrested Samson Lwanga, one of the four directors of Dunamiscoins. The company is currently running under a cryptocurrency scam. The scam is involved with more than 10,000 people and managed to defraud victims of 10 billion Ugandan shillings ($2.7 million).

Patrick Onyango, a spokesperson for the Kampala Metropolitan police stated that the law-enforcement agency submitted a general inquiry file and is still conducting its investigation into the case. 

Onyango added:

“According to him (Lwanga), they are willing to refund the money, but the problem is that Financial Intelligence Authority froze their accounts. And they cannot access or withdraw any money. We are going to get in touch with Financial Intelligence Authority to prove if what Lwanga is telling us is true on freezing the accounts.”

The alleged director said that most of the victims deposited sums between 1 million shillings ($271) and 10 million shillings ($2,715). Recently, Dunamiscoins convinced people to join the firm by promising 40% returns on cash investments. The cryptocurrency company was working with money transfer companies in the city to recruit new people to the scheme. The email address mentioned on Dunamiscoins’ website only to receive a notice that the listed address could not be found.

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