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Kampala — The glittering world of gold trade has turned murky and dangerous after a massive international scam rocked dealers operating between Dubai, Kampala and South Africa.
A fearless whistleblower has now dragged the shady masterminds out of the shadows — filing a formal petition with Uganda Police to crack down on what insiders are calling “the dirtiest gold con in Africa.”
At the heart of the scandal are two men accused of running a predatory extortion ring that has shaken the gold trade to its core.
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The alleged masterminds are Abdul Suhail Shaik, an Indian national and Imran Hasim Bhula, a South African passport holder of Indian descent.
According to the dossier, the duo has been terrorising legitimate gold dealers, moving between countries and turning trust into a weapon.
Sources say their method is pure manipulation: infiltrate dealers’ circles, gain access to secret trading data, then blackmail and extort using threats of exposure to so-called “rogue security operatives.”
These rogue operatives, operating in Uganda, South Africa, and the UAE, reportedly move in after the leaks — harassing, intimidating and milking the dealers for cash in exchange for silence.
“This is not theft — it’s corporate terrorism,” reads part of the whistleblower’s explosive letter now before Ugandan authorities.
The petition calls on police to urgently investigate and dismantle what is being described as an international gold mafia network fleecing millions from unsuspecting traders.
Efforts to reach Police Spokesperson Kituuma Rusoke were still futile by press time, but a top security insider confirmed that “multiple complaints have been filed” and that investigations are quietly underway.
Analysts say the revelations could blow the lid off one of the biggest cross-border gold rackets in the region’s history — with Dubai and Kampala, the two biggest trading hubs, caught right in the middle.
As one source put it:
“The gold business is no longer glitter — it’s blood, betrayal and billion-dollar deceit.”
Red Pepper will keep you posted as this golden scandal unfolds.
