GOSSIPMasaka City Tycoon Emanuel Lwasa allegedly dragged to police over 200MUGX fraud

Masaka City Tycoon Emanuel Lwasa allegedly dragged to police over 200MUGX fraud

Masaka City tycoon Emanuel Lwasa is one of Uganda’s businessmen who have invested in a number of businesses countrywide. He owns bars in Masaka, an Events company, and many other sources of income. His love for women, expensive cars, and showbiz can’t go unmentioned in his CV.

Emanuel Lwasa
Emanuel Lwasa

 

On 7th January 2022, Lwasa was dragged to police after the 200MUGX deal went astray. According to Lwasa’s complainant, Jeff said Lwasa was linked to him by a friend who trusts his products. On 2nd December 2021, Lwasa and Jeff made their first Gold transaction worth 60,000$ (200,000,000UGX) at Namanda Plaza in Kampala. He adds that after several experiments on the mineral, they realized Lwasa had delivered Counterfeit products.

Jeff adds that after several calls, Lwasa decided to come clean and vowed to deliver the genuine product. Since then, Lwasa has been playing hide and seek, acting in morally questionable behavior. Upon realizing that Lwasa’s aim was to go away with their money, they started trailing him, and he was arrested in Mityana shortly after his interview with Sanyuka TV. He was taken to CPS Kampala where he made a statement regarding the allegations.

Jeff disclosed that Lwasa is choking on debts lately and unless he pays their money, he will sleep behind bars.

 

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