NEWS– The Kabale Muslim district Khadhi, Sheik Kabu Lule has asked the government to crack down on online business scams.
Preaching today during Eid Al-Fitr celebrations at Kirigime mosque in Kabale municipality, Sheik Lule expressed concern about rampant cases of existing online and other financial institutions in Uganda only targeting to fleece people.
Lule cites an example of how hundreds of people in Kigezi region including; business operators, security Officers, teachers and religious leaders were enticed into investing money in an online cryptocurrency company; BridgeWater Stocks with an assurance of receiving massive profits after a specified period.
Every client would also get a bonus after recruiting another but the company shut down unexpectedly in February this year.
Hundreds of Boda boda riders in the same region were also in the same month fleeced by Hill Motors Limited in a motorcycle loan scam.
Each rider would make an initial deposit of Ugx 680,000 out of the required Shillings 6million to access a motorcycle and Ugx 8.5M for the tricycle alias Tuku Tuku but the company also surprisingly closed.
Lule said that because people don’t want to sweat, they easily get convinced to join such companies where they end up crying instead of earning.
He asked the government through security authorities to detect and crack down on such businesses and make sure that everyone behind it is dealt with according to the law.
CUE IN……LULE ON SCAMMERS…RR/ENG//