POLICE IN LIRA CITY NAB FOUR, SEIZE $9 MILLION IN SUSPECTED COUNTERFEIT CURRENCY

LCC TV NEWS

LIRA CITY, UGANDA – Authorities in Lira City have arrested four suspects and impounded bundles of United States dollar notes with a purported face value of $9 million (approximately Shs33.75 billion) following an intelligence-led operation targeting a suspected counterfeit currency syndicate.

The operation, executed by officers from Lira City East Division, was conducted at a residential property in Ireda Shamba Cell on the strength of a duly issued search certificate. The raid was prompted by actionable intelligence indicating that suspected counterfeit currency and related paraphernalia were being stored at the residence of a local businesswoman.

North Kyoga Region Police Spokesperson, Mr. Patrick Jimmy Okema, confirmed the development, stating that the operation marks a significant breakthrough in ongoing efforts to combat financial fraud and the circulation of fake foreign currency in the region.

During the preliminary search, law enforcement officers recovered a heavy-duty safe from the premises of a suspect identified only as Sandra. In her initial statement to investigators, Sandra claimed that the safe had been delivered to her residence by an individual later identified as Siwa Tonny, who is currently in custody at Lira City Central Police Station facing allegations of obtaining money by false pretences.

"The search was subsequently expanded, leading to the recovery of several motor vehicle logbooks and additional bundles of United States dollar notes in various denominations," stated Mr. Okema. "Preliminary findings suggest that this is not an isolated incident. The suspect, Siwa Tonny, has admitted to transporting the safe and has provided information indicating that the group has been active for a considerable period."

Police investigations have revealed potential links to suspected associates operating in Soroti City, leading investigators to believe that the arrested individuals may be part of a larger, well-organized network engaged in counterfeit currency-related activities. This hypothesis remains under active verification as the probe widens.

The seized currency has been secured and cataloged as primary exhibits. It will be forwarded to the Bank of Uganda for comprehensive forensic examination to definitively ascertain its authenticity.

"The public is reminded that dealing in counterfeit currency is a serious offense that undermines economic stability," Okema added. "We urge citizens to remain vigilant and report any suspicious financial transactions to the nearest police station."

Authorities have confirmed that investigations are ongoing, and further arrests are anticipated as security agencies intensify efforts to dismantle the suspected syndicate and bring all perpetrators to justice.