Ugandan Victims of Dunamiscoins Scam Petition Gov't for Lost Investments

Over 5,000 victims of the alleged cryptocurrency pyramid scheme Dunamiscoins have petitioned the Ugandan Parliament asking to refund money lost in the scam.

Arthur Asiimwe, the leader of the petitioning group who presented the request to the Parliament's speaker Rebecca Kadaga, claims that the government has licensed the alleged scam firm, according to an official announcement by the Parliament of Uganda on Jan. 16.Dunamiscoins victims are not satisfied with investigation results.

First spotted in early December 2019, Dunamiscoins is allegedly involved in defrauding over 10,000 people, causing them losses of around $2.7 million.

The apparent scam company reportedly closed its offices just a month after opening, stealing money from its investors and employees after previously promising 40% returns on cash investments.

As two Dunamiscoins directors stood trial in early January, Asiimwe also pointed out that one of the key individuals behind the scam, Susan Awon, has still remained at large.

Reports claim that the Ugandan President endorsed Dunamiscoins.

"Since you petitioned the President already, I will talk to him and invite the Minister of Finance, Uganda Micro Finance Regulatory Authority next week so we can forge a way forward."

While Dunamiscoins victims apparently accuse their government of not taking necessary measures to prevent the scam, some media reports claim that Uganda's President Yoweri Museveni endorsed the firm earlier.

According to local news publication The Independent, the victims told Kadaga that their faith in the company was driven by the President's endorsement alongside constant media adverts.

Cointelegraph has contacted the President's representatives for comment on the alleged endorsement of Dunamiscoins but has not received a response at press time.