Two Arrested in Multi-Million Crypto Currency Scam

Police in Katwe, a Kampala suburb have arrested two people, who were working with a multi-level marketing company Adsan Enterprises for allegedly defrauding people to the tune of Shs812 million and investing part of that money in cryptocurrency ventures.

According to a September 2 police statement, the prime suspects who were running the company operating at Muganzaliwaza building SE6 in Kampala are Simon Musinguzi and Daniel Kalyango.

The operation to arrest the duo, according to the statement, was conducted after “about 38 people reported cases to police alleging that the company had taken money from them after assuring them of returns, which failed to materialize.”

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