kadaga

Kadaga warns MPs about fraudulent schemes

By Alice Lubwama

The Speaker of parliament Rebecca Kadaga has warned Members of Parliament and the public at large against investing in Ponzi and Pyramid schemes saying that they risk being defrauded of their money.

In her communication to the house this afternoon as parliament returns from recess, Kadaga said that the schemes are a form of fraud that is leaving unsuspecting Ugandans in debt and deprivation despite promising high rates of return with little risk to investors.

Kadaga says a number of people who have fallen victim to the fraudulent schemes have petitioned her office seeking for help.

She also expresses concern over the delay by government to take action against the unscrupulous schemes.

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