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KAMPALA – Kampala District Land Board Chairperson, David Balondemu, a lawyer has been remanded to Luzira prison over $600,000 fraudulent gold deal.
Allegedly, he, along with three others, duped Korean Investor Hyun Uk Kim by falsely claiming to sell 53Kgs of gold.
The arrest on Friday followed a complaint by Kim to the State House Anti-corruption unit, citing substantial financial losses in Kampala due to dishonest dealings.
Balondemu joins co-suspects James Mugisha and Godfrey Maviri in custody.
He faces charges of swindling a Korean Investor, Hyun Uk Kim, out of $600,000 in a fraudulent gold deal. Balondemu, along with three others, allegedly duped Kim by falsely claiming to sell 53Kgs of gold.
The arrest followed a complaint by Kim to the State House Anti-corruption unit, alleging substantial financial losses due to dishonest dealings in Kampala. Balondemu, using his legal expertise, is believed to have orchestrated an intricate scheme that convinced the Korean Investor to part with the money.
Appearing before Grade One Magistrate Edgar Karakire, Balondemu denied charges of obtaining money by false pretenses. His attempt to secure bail based on health concerns, presented by three defense lawyers, proved unsuccessful, as the magistrate ordered his remand in Luzira prison until November 6th, pending a bail determination.
Despite Balondemu’s denial of charges, his attempt to secure bail based on health concerns failed, with the magistrate ordering remand until November 6th. Investigations into the case, occurring between August and November 2021, are ongoing.
Balondemu now joins his co-suspects, James Mugisha and Godfrey Maviri, who are already in custody. The prosecution indicates that investigations into the case, which occurred between August and November 2021, are still ongoing.