What began as an exposé of a multi-billion Ugandan shilling scam involving a fake fertilizer supply contract with German investor of Russian origin, Nikolaj Roleder of Roleder & Ebert Limited has taken an unexpected turn.
Now, the focus has shifted to the foreigner himself, who is being scrutinized as a lawbreaker.
This investor allegedly used his financial resources to engage in business activities while on tourist visa—an illegal act in Uganda.
In his fraudulent transactions, he lost substantial sums in two major dealings, one involving counterfeit gold and another concerning a non-existent fertilizer supply contract.
It is shocking to note that this complainant concealed two separate gold scams from Uganda Police where he lost approximately $450,000, and these funds he used to procure the fake gold, spread across two transactions, were never legally documented by Ugandan authorities.
This has raised suspicions about how he managed to bring such a large amount of money into the country undetected.
Further investigations reveal that, in his first transaction, he partnered with a Congolese man named Philemon Mundeke and a Ugandan associate named Emmanuel. The two, through their Kampala-based company KERLIBAR LIMITED, defrauded the German of $225,000 without delivering any gold.
Despite this initial setback, the German proceeded to pay another $230,000 in a second fake gold deal, only to lose it to Arman Minerals Limited.
This time, he was swindled in Kenya. Arman Minerals Limited was fronted by Vincent Semboga, who had initially invited the German to Uganda.
Sembogo is believed to be the brain behind the entire scheme—from the fake gold deals to the fraudulent fertilizer contracts.
Interestingly, the German investor cunningly refused to report these fraudulent dealings to the police.
Reports suggest his hesitation to involve the authorities stems from concerns about answering uncomfortable questions, particularly how he managed to smuggle close to a million dollar into the country without declaring it to the Financial Intelligence Authority (FIA) or the Uganda Revenue Authority (URA).
These actions suggest an attempt to evade tax and also tantamount to money laundering charges.
Further reports indicate that this money did not pass through their Diamond Trust Bank (DTB) account, (his company’s bank account) raising even more questions about how it was transferred into Uganda.
It is also suspected that the investor used Bitcoin to circumvent official money transfer channels.
Bitcoin, a cryptocurrency, is not recognized as legal tender in Uganda and is not regulated by the government or the central bank. This makes it a risky choice for transactions within the country.
Semboga, his contact in Uganda, allegedly facilitated a connection to another businessman in Kampala, Nelson Lufafa, who has become the central figure in his business dealings.
Lufafa, who holds power of attorney on his behalf, was once an MP for Jinja North Division. After losing his seat in 2021, Lufafa has been determined to win the 2026 elections.
He is reportedly using all means necessary to accumulate funds to finance his campaign.
Reports have implicated Lufafa as one of the key orchestrators behind the fake deals and fictitious contracts, yet he continues to manipulate the German, who remain unaware that Lufafa is the planner of his financial losses.
In early 2024, the German investor reported that he had been swindled out of UGX 3.7 billion (around $1 million USD) by individuals posing as officials from Uganda’s Ministry of Agriculture.
The fraudulent deal, which involved the supposed supply of fertilizers, quickly fell apart.
The German took his case to the Central Police Station (CPS) in Kampala under case number SD REF: 74/29/05/2024, accusing his Ugandan counterparts of obtaining money under false pretenses.
In the statement lodged at CPS, Nikolaj reports about four Ugandans who allegedly spearheaded this financial loss.
They include, Vincent Semboga, Dr Fabio, Counsel Tumuhumbize and another female lawyer Jackie.
He warned that such fraudulent incidents could tarnish Uganda’s international reputation, potentially resulting in the country being blacklisted and causing foreign investors to hesitate before doing business here.=
As investigations deepened, doubts have arisen about the legitimacy of the German investor’s own activities in Uganda. Ugandan authorities are closely monitoring Nikolaj Roleder.