Gold firm speaks out on former manager linked to sh13b scam

KAMPALA - Duck Hunters Security Company Limited, the company at the centre of a multi-billion shilling gold scam in which a group of Dubai-based investors lost over sh13b, has said it took immediate action and dismissed its managing director, embattled Ali Mohammed, who the State House Anti-Corruption Unit arrested.

In a statement, Jamal Ali Said, the majority owner based in the United States, confirmed Mohammed’s dismissal and shared a letter dated January 11, 2026, relieving him of his duties.

A copy of the letter, referenced “Dismissal as MD Duck Hunters Services Limited”, seen by New Vision and addressed to Mohammed, reads, “This is to notify you that your services and position as MD of Duck Hunters Services Limited is hereby terminated with immediate effect. As an MD and minority shareholder, you have abused your position and office by involving the company in shady and fraudulent deals, which actions have been prejudicial to the interests of the company. You forthwith must not enter or access the company or its premises,” Jamal stated.

Jamal noted that they also dismissed Peter Okaka, the company’s operations manager, whom he accused of working with Mohammed, on January 31, 2026.

Both dismissal letters were copied to the resident city commissioner, Makindye Division, the Commander Private Security Organisation at the Uganda Police Force, and the commandant of the Mineral Police Unit.

“He has, however, declined to hand over office and resorted to the use of force,” Jamal said.

On Monday, April 13, 2026, New Vision exclusively reported that the State House Anti-Corruption Unit, working with the Criminal Investigations Directorate, arrested Mohammed, a Ugandan of Somali origin, on Thursday, April 9, 2026, for allegedly defrauding investors of $3.5m (about sh13b) in a fake gold deal.

Mohammed’s arrest comes six months after the investors allegedly lost money to him. At the time of the alleged fraud, Mohammed was the managing director at Duck Hunters Security Services, a company based in Muyenga, Kampala.

The investors, who operate under the company MAPSCO General Trading LLC, later reported the matter to the unit, which intervened and investigated, leading to Mohammed’s arrest.

New Vision has learnt that the transactions took place last September when the Dubai-based investors visited Uganda to explore gold deals.

Sources in the anti-corruption unit have since confirmed Mohammed’s arrest, adding that they are also pursuing other suspects involved in gold scams targeting investors.
The source said: “Investigations also stretch to Spanex Cargo Company Limited, where the investors initially bought 10kg of gold.”

Spanex is one of eight companies recommended for closure over alleged illegal gold dealings in a joint report released in February this year by the Police’s Mineral Protection Unit and the energy ministry.

Other companies are Howks Guard Security, located on St Barnabas Road in Kiwafu, Muyenga; B Safe Security Systems, located in Nsambya, Makindye Division; Duck Hunters Security Services; Aurus Traders Limited; Kerlibar Logistics; Hey Transport Limited; and Midasgko Mineral Trade.

How it started

As part of their dealings, sources said the investors visited Spanex Cargo offices in Bukoto, Kampala, after obtaining contacts via the internet.

“The investors visited their offices in Bukoto, and they showed them their licences and permits and some export documents for other clients, and they bought from them 10kg of gold at $700,000 [sh2.58b],” the investors told investigators.

According to investigations, Spanex recommended that Duck Hunters secure the 10kg of gold as export documents were being processed.

“They went to Duck Hunters, where they met Mohammed, and he agreed to keep the gold. However, Spanex failed to arrange the relevant documents, and they kept on giving the investors assurances until they took them to the airport to travel with the gold.

However, on arriving at the airport, the Spanex people and Mohammed told investors that there was a problem with customs.

“They told them that customs could not clear only 10kg because Spanex had brought in 50kg. So, they lied to the investors that the 10 kg could not be cleared without the other 40kg. The investors, therefore, flew out without any gold since they had bought air tickets. On coming back, they started tossing them,” the investigators said.

According to investigators, when the investors returned to Uganda, Mohammed introduced them to another individual, claiming he could assist with exporting the 10kg of gold.

“Mohammed took us to a certain office in Buziga, where we found many soldiers with guns. We were searched at the gate and our mobile phones were taken. We were then taken upstairs to meet an alleged Uganda People’s Defence Forces (UPDF) army general introduced as James. We met him with other people whom he introduced to us as his clearance agents from a company, Midasgko Mineral Trade,” the investigators said.

At this stage, the investors were reportedly persuaded to purchase an additional 30kg of gold from the alleged UPDF general. They later bought the 30kg at $80,000 per kilogramme, amounting to $2.4m (sh8.88b).

The investors were reportedly given samples of the alleged gold, which were placed in a Duck Hunters vehicle and taken to a refinery.

“They checked the gold and paid the money,” the source revealed. As they attempted to leave the country with the consignment, the investors were again told that some accompanying documents were missing, and they could not travel with the gold. It was at this point that they suspected fraud and reported the matter to authorities.