Ugandan Parliament Faces Petition from Dunamiscoins Victims Demanding Justice

Victims Say “Refund Us!”

Over 5,000 victims of the suspected cryptocurrency pyramid scheme Dunamiscoins are not taking this lying down. They have rallied together and petitioned the Ugandan Parliament, pleading for the return of their hard-earned money that vanished into thin air. Arthur Asiimwe, who is apparently leading this forlorn crusade, presented the group’s request to the Parliament’s speaker, Rebecca Kadaga, on January 16.

The Alleged Scam: A Quick Recap

First making its dubious debut in early December 2019, Dunamiscoins reportedly left about 10,000 unwitting investors worse off to the tune of $2.7 million. Just a month after its grand entrance, the company hastily shut its doors and disappeared, snatching funds from both investors and employees while claiming to offer ludicrous returns of 40% on investments.

Government Accountability Demanded

Asiimwe does not mince words. He accuses the Ugandan government of giving its blessing to what he calls a “scam firm.” According to him, the government allowed the company to operate as a non-deposit-taking financial institution, seemingly unaware—or uninterested—in the schemes that would unfold. As he put it, “The government licensed this company and gave it a go ahead.”

A Cry for Justice.

He’s not just crying foul about the blatant fraud; there’s also a key figure named Susan Awon who’s still roaming free while two of the directors face trial. “There’s a third director in the wind,” he lamented, hinting that the authorities seem to be dragging their feet in bringing her to justice.

Parliament Responds: A Glimmer of Hope?

In a sliver of good news, Kadaga has promised to speak with the relevant state authorities to navigate this murky situation. She stated she would reach out to President Yoweri Museveni and the Minister of Finance, as there seems to be a web of responsibility tangled in this fiasco. “We need to forge a way forward,” she declared, though it’s clear this is easier said than done.

The Presidential Endorsement Background

Adding fuel to the fire, reports suggest that President Museveni might have endorsed Dunamiscoins, an endorsement that victims claim nurtured their misguided trust in the company. The smattering of media advertisements didn’t help either, leading many to believe they were investing in a legitimate opportunity, not a financial trap.

A Coin in the President’s Hand?

Museveni’s relationship with the crypto sector is a curious one. Back in 2018, he even had a meeting with some big shots at Binance, discussing potential blockchain advancements. The tragedy here? Victims are left feeling as if they were tricked by the very leader who supports such modern financial technology.

Looking for Closure

While the cries for justice now echo within the walls of Parliament, only time will tell if Ugandan authorities will rise to the occasion. The saga of Dunamiscoins continues to unfold, and many are still hoping against hope for a resolution to this unfortunate chapter.