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Mar 25th, 2026

Man Accused Charged in Investor Fraud Case

Written By | Jovita Hasto
Ibona Joseph before the Anti-Corruption Division of the High Court on charges of obtaining money by false pretences

Kampala 

The State House Anti-Corruption Unit, in collaboration with the Criminal Investigations Directorate (CID) and the Office of the Director of Public Prosecutions (ODPP), has arraigned Ibona Joseph before the Anti-Corruption Division of the High Court on charges of obtaining money by false pretences.
Ibona was remanded until April 10, 2026. According to prosecutors, Ibona is part of a group of suspected fraudsters that includes Mulyansaka Charles, also known as Dr. Muo Dickens; Watum Peter; and Twebaze Drake, also known as Dr. John Karuhanga. The group had earlier been charged with various offences related to defrauding an investor.

The suspects are accused of orchestrating a fraudulent scheme involving the purported supply of AdBlue solution—a chemical used to reduce carbon emissions in automotive engines—valued at USD 4.95 million. The alleged transaction targeted several government entities, including the Ministry of Energy and Mineral Development and the Ministry of Works and Transport.

Investigations further indicate that the accused attempted to obtain USD 50,000 through a bank account, falsely claiming that the funds were required to facilitate the registration of the investor’s company, TMA Africa Proprietary Limited, in Uganda. Prosecutors contend that this claim was fraudulent and intended to deceive the investor. 
The case is part of ongoing efforts by anti-corruption agencies to crack down on fraud targeting both local and foreign investors.

Torch Media Africa

Published By | News Editor

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