By Frank Kamuntu
This week the State House Anti Corruption Unit with Uganda Police arraigned city lawyer Kato Absolom of M/s KAAB Advocates, before the Anti-Corruption Court on Charges of Electronic Fraud and Money Laundering.
The accused together with others at large, between July 2022 and April 2023 unlawfully made communication through a computer network and obtained USD286,910 from Qatar investors as performance security fees for a non-existing contract by Gov’t of Uganda for the construction of six technical model schools in Wakiso, Kasanda, Pader, Garuga, Nampungwe and Busunju where as not.
He has been remanded till 10/07/2024.
This afternoon, @AntiGraft_SH together with @CID1_UG and @ODPPUGANDA have arraigned Lawyer Kato Absolom of M/s KAAB Advocates, before the Anti-Corruption Court on Charges of Electronic Fraud and Money Laundering.
The accused together with others at large, between July 2022 and… pic.twitter.com/sXgffLCrfT
— Anti Corruption Unit – State House Uganda (@AntiGraft_SH) June 28, 2024
Defrauding refers to the act of deceiving someone to gain financial or personal advantage. It involves the use of deceitful methods to trick someone into giving up money, property, or rights under false pretenses. Here are some key aspects and examples of defrauding:
Key Aspects of Defrauding:
- Deception: The perpetrator intentionally uses false information, misleading statements, or omissions to mislead the victim.
- Intent: There is a clear intent to deceive and cause harm to the victim for personal gain.
- Loss: The victim suffers a financial loss or is deprived of something of value as a result of the deception.
- Benefit: The perpetrator gains financially or otherwise benefits from the deception.
Common Types of Fraud:
- Financial Fraud: Includes schemes like Ponzi schemes, embezzlement, and investment fraud where individuals are tricked into investing money into bogus ventures.
- Identity Theft: Stealing someone’s personal information to access their bank accounts, credit cards, or take out loans in their name.
- Insurance Fraud: Making false claims to an insurance company to receive compensation.
- Credit Card Fraud: Unauthorized use of someone’s credit card information to make purchases or withdraw funds.
- Mail and Wire Fraud: Using postal services or electronic communications to commit fraudulent acts.
- Tax Fraud: Providing false information to tax authorities to reduce tax liability or claim unearned refunds.
Examples of Defrauding:
- Ponzi Schemes: Scammers promise high returns on investments with little or no risk. Early investors are paid returns with the capital from newer investors, creating an illusion of a profitable enterprise until the scheme collapses.
- Phishing Scams: Fraudsters send emails or messages pretending to be from legitimate organizations to trick individuals into providing personal information like passwords or credit card numbers.
- Fake Charities: Scammers create fake charitable organizations, especially after natural disasters or during holidays, to solicit donations that they keep for themselves.
- Advance Fee Fraud: Victims are promised large sums of money (e.g., lottery winnings or inheritance) but are asked to pay a fee upfront to cover “processing” or “legal” costs. Once the fee is paid, the scammer disappears.
- Mortgage Fraud: Providing false information on mortgage applications to obtain loans or manipulating property values for profit.
Preventing Defrauding:
- Awareness: Being aware of common fraud schemes and tactics can help individuals recognize and avoid them.
- Verification: Always verify the authenticity of unsolicited requests for personal information or financial transactions.
- Security Measures: Use strong, unique passwords for online accounts and enable two-factor authentication where possible.
- Report Suspicious Activity: Report suspected fraud to relevant authorities, such as banks, credit card companies, or law enforcement agencies.
Legal Consequences:
Defrauding is a serious criminal offense and can lead to significant legal consequences, including fines, restitution, and imprisonment. The severity of the penalties depends on the extent of the fraud, the amount of loss involved, and whether it is a repeat offense.
