By; Our reporter

05th December 2019

Dozens of people in Masaka district are counting losses after investing in a sham crypto currency business scheme known as DUNAMISCOIN Resources Limited.

The business that opened in Masaka town in November this year and started enrolling clients on its digital currency network, closed its offices located on Laston Business Centre in Masaka town leaving several people crying foul on finding the offices closed this morning.

Some of the witnesses among them Joseph Musiitwa Natakemula, who operates a boutique next to the closed offices explains that the company has been luring several people to join their network each paying 20,000/= for registration with promises of up to 40 percent interest on their cash deposits through mobile money agents around Masaka town.

Musiitwa says the company has been recruiting clients through mobile money agents as Marketing Executives, Cashiers, Marketing Managers, Offices Assistants, Receptionists and Banking Managers among others.

Herman Ssentongo, the Masaka Resident District Commissioner has ordered for security surveillance of the company offices in a bid to apprehend some of the operators to help them recover the lost money.

Bank of Uganda has on several occasions warned Ugandans to be extra cautious with such Ponzi schemes, saying they are not regulated and monitored in the country.

Friday 6th December 2019 08:19:28 PM