MTN Uganda, Uganda's biggest and largest telecommunications company has been defrauded of over $3.8 billion.
The money was paid by MTN to Threeways Shipping Services Group Limited, as shipping charges for network equipment that has never been delivered to the complainant (MTN Uganda)
In an affidavit sworn in the anti-corruption court in Kampala, "MTN claims Threeways shipping services submitted to them fictitious invoices totaling to $3.8 billion as shipping charges for network equipment that was paid for by MTN yet no goods had been shipped by the supplier"
The court also ordered for the closure of the the two accounts the company operates with Stanbic and Standard Chartered banks until investigations are fully competed. Its believed that the money was wired to the company through these accounts. The closure of the accounts is also to avoid the withdraw or transfer of the funds on these accounts as this may lead to loss of money to MTN as the complainant as well as the government of Uganda.
The money was paid by MTN to Threeways Shipping Services Group Limited, as shipping charges for network equipment that has never been delivered to the complainant (MTN Uganda)
In an affidavit sworn in the anti-corruption court in Kampala, "MTN claims Threeways shipping services submitted to them fictitious invoices totaling to $3.8 billion as shipping charges for network equipment that was paid for by MTN yet no goods had been shipped by the supplier"
The court also ordered for the closure of the the two accounts the company operates with Stanbic and Standard Chartered banks until investigations are fully competed. Its believed that the money was wired to the company through these accounts. The closure of the accounts is also to avoid the withdraw or transfer of the funds on these accounts as this may lead to loss of money to MTN as the complainant as well as the government of Uganda.