The Uganda-based Dunamiscoins Resources Limited has coned more than 5, 000 people who have invested their money with the company. All the victims have now petitioned to refund their money to the Ugandan Parliament, as the firm is licensed by the government.
Initially, when the fraud was identified earlier last month, more than 10, 000 people were said to have lost around USD2.7 million, where they were promised 40% returns on cash investment.
“Government licensed this company and gave it a go ahead to work as a non-deposit taking financial institution; it carried out its duties as a micro finance company. They gave unrealistic bonuses.”
Arthur Asiimwe, the leader of the petitioning group
It is notable that only two of the accused directors were present during the trial in early January and one more director, Susan Awon is still not seen. Asiimwe has expressed his dissatisfaction on this matter and has demanded the Ugandan authorities to produce the third director and refund the victim’s money.
“Since you petitioned the President already, I will talk to him and invite the Minister of Finance, Uganda Micro Finance Regulatory Authority next week so we can forge a way forward.”
Parliament’s speaker Kadaga
At the moment, the two directors, Samson Lwanga and Mary Nabunya are remanded in custody till the next hearing tomorrow, 22 January 2020.
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