Kampala Land Board Chairperson Remanded over Alleged UGX2.2 Billion Gold Scam

Date:

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

David Balondemu, a lawyer and the Chairperson of the Kampala District Land Board, has been remanded to Luzira prison by the Kampala City Hall court.

Balondemu is currently facing charges for swindling Hyun Uk Kim, a Korean Investor, out of $600,000 approximately UGX2.2 Billion in a fraudulent gold deal. Along with three others, Balondemu is accused of deceiving Kim by falsely claiming to sell 53Kgs of gold.

The arrest followed a complaint by Kim to the State House Anti-corruption unit, alleging substantial financial losses due to dishonest dealings in Kampala. Balondemu, using his legal expertise, is believed to have orchestrated an intricate scheme that convinced the Korean Investor to part with the money.

Appearing before Grade One Magistrate Edgar Karakire, Balondemu denied charges of obtaining money by false pretences. His attempt to secure bail based on health concerns, presented by three defence lawyers, proved unsuccessful, as the magistrate ordered his remand in Luzira prison until November 6th, pending a bail determination.

Balondemu now joins his co-suspects, James Mugisha and Godfrey Maviri, who are already in custody. The prosecution indicates that investigations into the case, which occurred between August and November 2021, are still ongoing.

This is the second arrest in relation to the complaint lodged by the Korean investor Hyun UK Kim who lost money multiple times to Kampala’s crooked dealers.

Mr Hyun reported the matter to SHACU that he had been conned of $1.5 billion in several gold and financial schemes.

Balondemu’s arrest comes after an extensive investigation into the investor’s claims, which highlighted the alleged deception.

According to the prosecution, Balondemu allegedly utilized his legal knowledge to create an elaborate scheme that convinced the investor to pay $600,000.

The exact details of the scheme have not been disclosed, but it is believed to involve false investment opportunities and financial misconduct.

Two weeks ago, City Hall Grade One Magistrate Rehema Nassozi Ssebowa remanded two men to Luzira Maximum Security Prison on charges of obtaining money by false pretence from the same Korean investor Hyun.

The court heard that Mugisha and Maviri, along with others who are still at large, allegedly committed these crimes between August 2021 and November 2021 in Kampala City.

They allegedly obtained US$300,000 (approximately Shillings 1.1 billion) by falsely claiming that they were selling 53 kilograms of gold to Hyun.

Balondemu now joins his co-suspects, James Mugisha and Godfrey Maviri, who are already in Luzira prison sweating plasma.

- Advertisement -

Share post:

Popular

More like this
Related

NRM’s Faridah Nambi Embarks on Door-to-Door Campaign in Kawempe North

Kampala, Uganda — In the lead-up to the Kawempe...

Parliament Approves Over Shs1.2 Trillion Supplementary Budget

Kampala: The Parliament of Uganda has approved a supplementary...

Teen Dies After Setting Herself on Fire Over School Placement

A 17-year-old student, identified as Ndagire Mary, has tragically...

City Businessman Jailed for Beating Up Slay Queen at Mezo Toilets

A night out at Mezo Bar in Kololo took...