By Ben Musanje
Eleven suspects accused of orchestrating a multi-billion-shilling industrial park investment fraud have been remanded to Luzira Prison as investigators widen inquiries into an alleged money laundering network and pursue additional suspects linked to the scheme.
The accused; Peter Lubwama, Henry Ochown alias Malong Tong, Pascal Owori alias Steven Majong, Hassan Mohammed Abdallah, Doreen Nabiimara, Phiro Moureen Sabano, Frank Kamya, Willy Sserunjogi, Samuel Ssempala, Juma Okech and Richard Kanakulya — appeared before the Buganda Road Chief Magistrate’s Court on a raft of charges arising from what prosecutors describe as a sophisticated investment fraud operation.
According to the charge sheet, the suspects and others still at large allegedly obtained more than USD 2.56 million (about Shs11 billion) from businessman Levy Lawrence Omulen between May 2023 and July 2024 by falsely claiming they were jointly investing in the development of an industrial park in Namawojjolo, Mukono District.
Prosecutors allege that the money was obtained through a series of transactions conducted in Kampala, Busia, Mbale and Pallisa districts. Court records indicate that Omulen allegedly handed over several large cash payments at different locations, including USD 200,000 at Roots Restaurant in Kampala in May 2023, USD 107,000 at Gold Star Hotel in Busia in September 2023, USD 1.3 million at the same hotel in December 2023, USD 230,000 at Elgon Hotel in Mbale in January 2024 and USD 400,000 in Mbale in April 2024.
The charge sheet further alleges that additional funds amounting to USD 221,000 were deposited in July and August 2024 into an account belonging to M/S B.M.S General Trading Limited after the complainant was allegedly assured that the money would be invested in the industrial park project. Investigators also cite several mobile money transactions involving accounts registered in the names of some of the accused and their alleged associates.
Court documents show that the alleged transactions were carried out through a combination of direct cash handovers, bank deposits and mobile money transfers, forming what investigators believe was a coordinated scheme that operated for more than a year.
The case, however, extends beyond allegations of obtaining money by false pretences. Prosecutors contend that part of the suspected proceeds was later channelled into the acquisition of land, motor vehicles and other assets in an effort to conceal the origin of the funds.
Among the assets referenced in the charge sheet are parcels of land in Njeru, Namugongo, Kira Municipality and other parts of Wakiso District, as well as a Toyota Harrier motor vehicle registration number UBP 788U. Investigators allege that some properties were registered or transferred into the names of third parties as part of an elaborate effort to disguise ownership and the source of the funds.
Pascal Owori faces additional counts of receiving stolen property and money laundering. Prosecutors allege that he received funds believed to have been obtained from the complainant and later used part of the money to acquire and develop land in Naminya, Njeru Municipality, Buikwe District.
The charge sheet also contains allegations of conspiracy to defraud, conspiracy to commit a felony, receiving stolen property and money laundering against various members of the group.
In a further twist, prosecutors have included charges related to counterfeit currency. Court documents allege that counterfeit United States dollar notes worth USD 1.094 million were uttered during the period under investigation. One of the accused is also charged with allegedly possessing counterfeit USD 7,400 recovered during an operation in Wakiso District.
The accused appeared before Buganda Road Chief Magistrate Ritah Neumbe Kidasa, who did not allow them to take plea on account of the capital nature of some of the offences. Such offences fall under the jurisdiction of the High Court.
The court remanded all 11 suspects to Luzira Prison until July 9, 2026, as police continue investigations and efforts to apprehend other individuals believed to be connected to the alleged scheme.
The case has since taken a dramatic turn, with some of the accused reportedly mounting a counterclaim against the complainant. They allege that Omulen is involved in the printing and circulation of counterfeit currency, accusations that have not been substantiated before court.
The competing claims are expected to feature prominently as investigations continue into what authorities describe as a complex fraud, counterfeit currency and money laundering case involving millions of dollars and an extensive trail of financial transactions and assets across several districts.
For now, all charges remain allegations. The accused are presumed innocent unless and until proven guilty by a competent court.
This version reads more like a front-page court and investigations story, with smoother transitions, stronger chronology, and clearer incorporation of the chargesheet allegations.
