Director arrested over Ugandan $2.7m Dunamiscoins ‘crypto scam’

The director of a company behind an alleged $2.7m cryptocurrency scam in Uganda has been arrested.

Samson Lwanga is the director of Dunamiscoins Resources Limited, which opened in Masaka in central Uganda in November and started taking money from local clients – promising 40% interest.

However, the firm’s office suddenly closed without warning, and angry investors were left with nowhere to turn after Dunamiscoins apparently disappeared with their cash.

Kampala Metropolitan Police spokesperson Mr Patrick Onyango told the Daily Monitor that Lwanga was arrested near Dunamiscoins’ offices in Kampala.

He said: “We have already opened a general inquiry file and investigations are going on. We recorded statements from the complainants and arrested one of the directors called Samson Lwanga, who is currently detained at Old Kampala Police Station.

“According to him (Lwanga), they are willing to refund the money, but the problem is that the Financial Intelligence Authority froze their accounts.”

He added: “They cannot access or withdraw any money. We are going to get in touch with the Financial Intelligence Authority to prove if what Lwanga is telling us is true on freezing the accounts.”

Last week, Mr John Marry Ssemujju described how he took a job as a salesperson for Dunamiscoins and invested money in it.

He said: “They told me it would help me a lot. They said they would give me a job.

“I went to their offices in Kampala for an interview. They then convinced me to invest some money with them saying I would get it back with high interest in dollars.”

Mr Herman Ssentongo, the Masaka Resident District Commissioner, is urging victims and anyone with information to come forward.