Club Rouge boss Ronald Muramuzi, the brain behind TelexFree and Ad fast cyber schemes in Uganda will be charged with three counts of electronic fraud, conspiracy to commit a felony and obtaining Money by false pretence, Kampala Metropolitan Police spokesman Patrick Onyango has said.
Muramuzi was arrested following the sudden closure of Telex free, an international scheme which reaped hundreds of billions of shillings from Ugandans.
Muramuzi was picked by detectives before being detained at Kampala Central Police Station as investigations into the matter continue.
Many of the alleged victims of TelexFree were drawn into the schemes marketing pitch by other members of their community who boasted of the huge sums they were making for the simple job of promoting an Internet telephone service.
Onyango adds that police has received over 300 complaints from people who were seduced to join the scheme. They believe that his over Ugx 7billion was defrauded from unsuspecting individuals who fell prey to the marketing antics and joined the scheme.
Onyango however adds that the charge sheet is not yet complete as more complaints are lodged. He is however optimistic that the charge sheet will be completed by tomorrow, Tuesday May 20, 2014.