Uganda’s recurring gold fraud networks have resurfaced again, this time involving high-profile international victims, including a former FBI Special Agent, a former U.S. Army Ranger, and an employee of the U.S. Embassy in Sierra Leone. The case is shaping up to be one of the most significant cross-border fraud incidents of 2025.
According to the victims, the group had pooled resources and invested in Uganda’s rapidly expanding but high-risk gold trade. Their investment quickly collapsed, resulting in major financial losses.
Former FBI Special Agent Tarine Keve Fairman Sr reports that he and his associate were defrauded of USD 330,000 (about UGX 1.166 billion). Fairman has prepared a comprehensive evidence dossier containing documents, audio recordings, and video material showing how the scheme unfolded.
The victims say they are determined to pursue all those involved and seek legal action. Given the professional background of the victims, who include experienced operatives from major international security institutions, investigations are expected to intensify.
Full identities of the suspects will be published in upcoming reports. However, early information links the alleged network to a Kampala-based refinery and to Kenyan national Elizabeth Esther Steenkamp.
Steenkamp, the Managing Director of Washa Lidjiwe Investments Limited, is currently in detention on charges of obtaining money by false pretence and conspiracy to commit a felony. Prosecutors state that between June and August 2025, she and her accomplices defrauded American investor Vladimir Toussaint Yvens of USD 255,650 (UGX 980 million) in a fake 46-kilogram gold export deal. Investigators say the money was requested for “declaration fees, government royalties and documentation,” but no gold was delivered, and the suspects allegedly stopped communicating.
Her case is one among many in what authorities now describe as a growing wave of gold fraud in Uganda. Fraudsters continue to target foreign investors using forged documents, shell companies, falsified export entries, and empty warehouses presented as legitimate refineries.
Recently, the Anti-Corruption Unit and CID arrested seven suspects accused of defrauding a Nigerian businessman of USD 70,000 through counterfeit gold bars. In September, prosecutors charged Luyima Godfrey, who allegedly conned a South Korean investor out of more than USD 600,000 using forged certificates and fake diplomatic clearances.
Public enforcement data shows that more than 56 individuals have been implicated in gold-related fraud cases this year. Raids on rentals and informal refineries around Kampala have resulted in the recovery of up to UGX 900 million (approximately USD 240,000) in stolen funds within eight months.
Industry observers warn that although Uganda’s gold sector is expanding, it is also experiencing a rise in organised scams. Weak regulation, widespread document forgery, and the ease of creating shell companies continue to enable fraudsters to lure foreign buyers seeking fast profits.
As more victims come forward, including professionals from major international security agencies, pressure is mounting on Ugandan authorities to strengthen oversight and dismantle the networks damaging the reputation of the country’s mineral sector.
