Ugandans have once again fallen prey to a suspected fraudulent investment scheme named “Capital Chicken,” which falsely promised lucrative returns within the poultry industry.
The scam specifically targeted corporate ‘investors’ seeking to profit from chicken farming without direct involvement. Over the nearly three years of its existence, Capital Chicken, presenting itself as an agribusiness contract farming partnership enterprise, appeared to operate smoothly, attracting a growing clientele.
The scheme was headquartered at Plot 74, Kanjokya Street in Kamwokya, with another branch at Nyumba Kubwa on Ben Kiwanuka Street, both located in Kampala.
According to the police, more than 80 victims have filed complaints at Kira Road and Kampala Central police stations. The police have calculated the total losses to be approximately Shs1.6 billion.
Among the victims are a retired security officer who allegedly invested around Shs380 million and a retired civil servant who invested Shs420 million in the scheme.
Promising a 15% monthly profit on every investment in the chicken business, the scheme attracted many clients. However, suspicions arose when the scheme’s managers began deferring payouts and capital returns.
On September 29, clients were shocked to discover that the scheme’s offices had unexpectedly closed.
Luke Owoyesigyire, the deputy Kampala metropolitan police spokesperson, revealed that statements have been recorded, shedding light on transactions, and relevant documents related to these transactions have been recovered to aid the ongoing investigation.
Key suspects in the case, Pius Wamanga and Ernest Sempebwa, are believed to have fled the country.
It is worth noting that last year, Ugandans lost over Shs2 billion in the BLQ’s online gaming ponzi scheme.
