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Kampala Businessman Charged In A 300 Million Fake Gold Deal

Gold business

by Newsday Author
July 21, 2025
in News
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Kampala Businessman Charged In A 300 Million Fake Gold Deal
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By Angel Lubowa

COURT

The chase at fake gold dealers in Kampala over the weekend netted another business man who allegedly conned foreign investors after convincing them that he had very pure raw gold.

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He was however cornered by the State House Anti Corruption unit working with Uganda police and office of the DPP and brought to book.

For his alleged deeds, Egesa Mackland was on Thursday arraigned before the KCCA Grade 1 Magistrates’ Court on serious fraud charges.

He was accused of obtaining money by false pretense and conspiracy to defraud, joining his co-accused Kizito Dalton, who was earlier charged and remanded on related charges.

Court heard that the duo allegedly defrauded an American investor of USD 105,000 more than 300 m in Uganda currency between February and June 2024 under the guise of supplying 20 kilograms of pure gold—a claim that was ultimately false.

According to the prosecution, the accused individuals meticulously planned and executed the scheme, convincing the foreign investor of their capacity to deliver high-purity gold, only to disappear after receiving the funds.

The court heard that the fraudulent operation was uncovered following a complaint from the victim and subsequent investigation by law enforcement authorities. The accused were found to have presented fake documentation and created an illusion of a legitimate gold trading operation.

He was remanded until July 23, 2025, pending further proceedings.


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