Police in Kampala are investigating a suspected conman for tricking Ugandans into exchanging millions of shillings for fake ‘black dollars’.

The “black dollar scam” is a scam where con artists attempt to fraudulently obtain money from a victim by convincing them that they can turn black pieces of paper into genuine dollars.

Wambuzi Ronald, a former Mayoral aspirant for Jinja City North Division, 2020  is accused by several victims who claim to have been duped of large sums of money in exchange for the black dollar.

Wambuzi’s luck ran out on July 26 after another of his victims identified as Allan Matovu informed police that he gave 145 million shillings in exchange for black dollars.

Matovu, an employee at Asta Banking Agency, a company that lends cash to other banking agencies in the form of float, was convinced by a friend to enter the deal after he made a loss at his workplace.

Matovu was given 300 million shillings on June 26th by his boss, identified as Makoha Fredrick to distribute as a float to clients, however, when he went to receive the cash, he realized a loss of 30 million. 

Luke Owoyesigyire, the Kampala Metropolitan Deputy Police Spokesperson says Matovu went missing after realizing the loss, prompting his boss to report to police at Kabalagala.He was tracked down four days later and arrested.

Owoyesigyire however says upon arrest, Matovu told police he fell victim to Wambuzi ‘s tricks and had lost 145 million.  Matovu says he met Wambuzi through a friend currently on remand at Kitalya who advised him to recover the lost cash by dealing in the black sollar.

He further explains that Wambuzi met Matovu at a local guest house called Ntinda Comfort suit and then exchanged cash for dollars, only to realize it was fake paper money later. Wambuzi reportedly went into hiding after fleecing millions from his victim.

Owoyesigire says police tracked down Wambuzi and managed to arrest him on July 26.

He adds that police have over five different files at Kira Road and Ntinda, of victims alleging  to have been conned by the same suspect using different names.

He however says Wambuzi has since denied the allegations.