The court further heard that the accused allegedly engaged in money laundering by channeling the funds through various accounts to conceal their origin.
A Kampala-based businessman has been arraigned before the Anti-Corruption Court on charges of fraud, money laundering, and impersonation in connection with a scheme that allegedly defrauded foreign investors of over sh1.1bn.
Gilbert Tumwebaze Bafanabyo, also known as “Albert,” was on Friday charged following a joint investigation by the State House Anti-Corruption Unit, the Criminal Investigations Directorate (CID), and the Office of the Director of Public Prosecutions.
Prosecution alleges that between July 2022 and April 2023, Tumwebaze falsely presented himself as a manager of Sky Link International and used the assumed identity to solicit funds from investors based in Qatar.
Court heard that the accused claimed he was facilitating a government contract for the construction of six technical model schools in Wakiso, Kasanda, Pader, Garuga, Nampungwe, and Busunju. He reportedly convinced the investors to remit funds as performance security fees required to secure the purported project.
The investors allegedly transferred a total of USD 286,910 (approximately sh1.1bn), believing the project to be legitimate.
However, investigations revealed that no such contract existed and that the representations made to the investors were false. Prosecutors contend that Tumwebaze was aware that the project was fictitious at the time he obtained the money.
The court further heard that the accused allegedly engaged in money laundering by channeling the funds through various accounts to conceal their origin. Authorities also indicated that other suspects connected to the scheme are still at large.
Tumwebaze did not enter a plea to the charges, as the Anti-Corruption Court lacks jurisdiction to try capital offences at this stage.
He was remanded until April 17, 2026, as investigations continue.
The case underscores ongoing efforts by authorities to clamp down on fraud schemes targeting both local and international investors.
