Canadian Consultant Arrested in Uganda for Alleged Shs5.5 Billion Gold Scam

Michel Faille, a consultant reportedly living at Mestil Hotel in Nsambya, Kampala, faced the Buganda Road Magistrate’s Court on charges of defrauding individuals of a substantial amount of money through a fraudulent gold scheme. The court heard that Faille, along with others not yet apprehended, allegedly engaged in fraudulent activities involving gold, leading to a loss of approximately Shs5.5 billion for his alleged victims.

The prosecution stated that the alleged offenses occurred between April 2022 and July 2024. The charges include obtaining money by false pretenses and conspiracy to defraud. Faille is accused of falsely representing himself and his associates as legitimate dealers in gold, inducing complainants to part with significant sums of money under the promise of lucrative returns.

Upon his appearance in court, Faille did not enter a plea as the charges are considered serious and fall outside the magistrate’s court’s jurisdiction to try. The prosecution requested that Faille be remanded to allow for further investigations into the complex fraud case. The court, presided over by Grade One Magistrate Joan Ketyo, acceded to the request, ordering Faille’s detention.

Faille’s legal representative argued for bail, presenting sureties and highlighting the accused’s fixed abode in Kampala. However, the prosecution countered that Faille is a foreign national with no strong ties to Uganda, posing a flight risk. The court considered these arguments and ultimately denied bail, emphasizing the need for comprehensive investigations and the potential risk of Faille absconding.

Faille will remain in custody until his next court appearance, scheduled for August 15, when the court will review the progress of the investigation. The ongoing investigation aims to uncover the full extent of the alleged gold fraud network and apprehend any other individuals involved in the scheme.

Source: Daily Monitor (Uganda)