By Yusuf Obbo
Police in Iganga have arrested a 35-year-old man after he was allegedly found in possession of suspected counterfeit United States dollars while attempting to make a banking transaction at Finance Trust Bank in Iganga Municipality.
The suspect, identified as Magezi Edward, a resident of Southern Division in Kamuli Municipality, reportedly appeared at the bank to deposit the money. During the transaction, bank staff became suspicious of the notes and immediately alerted the police.
Officers responded promptly and arrested Magezi before taking him into custody for further questioning.
According to preliminary police findings, the suspect was found with 98 notes of US$100 denomination, with the total amount estimated to be equivalent to approximately UGX 34.3 million.
Police also recovered several electronic gadgets, including flash storage devices, which have been seized for forensic examination as investigators seek to establish whether they are linked to any criminal activities.
Magezi is currently being held at Iganga Central Police Station (CPS) as investigations into the suspected counterfeit currency and the recovered electronic devices continue.
Police have urged members of the public and financial institutions to remain vigilant and to report any suspected counterfeit currency or suspicious financial transactions to the nearest security authorities.
