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Chinese National Arrested in Ugandan Football Ponzi Scheme Scam

The scam involved an online football Ponzi scheme operated by the company called Acclaim BLQ Sports.

Ssendaza Ismail by Ssendaza Ismail
June 24, 2023
in News, Uganda
Reading Time: 4 mins read
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A Chinese national has been apprehended by the police in connection with a fraudulent scheme that resulted in over 6000 Ugandans losing more than Shs 4.5 billion.

KAMPALA, UGANDA | NOW THEN DIGITAL — The Ugandan police have made an arrest in connection with a scam that resulted in over 6,000 Ugandans losing more than shs4.5 billion in a football Ponzi scheme.

Here are the details:

Scam Operation of BLQ

The scam operated under the name BLQ, resembling a football betting site where users could suggest fixtures and predict their scores. However, users would only profit if the company’s predictions for a match were incorrect.

Closure of the Scamming Company

In October of the previous year, the fraudulent company abruptly ceased operations in Uganda, leaving countless Ugandans who held accounts with it devastated.

Arrest of Chinese National

On Friday, the police announced the arrest of Yinghe Chen, a 43-year-old Chinese national residing in UCB Zone, Bukoto, Nakawa division, Kampala.

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Interagency Investigation and Task Force

The arrest was made following an extensive investigation by the National cyber task force, a collaboration between various agencies such as the CID, Crime Intelligence (CI), ISO, ESO, CMI, Bank of Uganda, NIRA, NITA Uganda, and the Uganda Banker Association.

The investigation focused on allegations of fraud against Acclaim BLQ Sports SMC and its five subsidiary companies.

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UPF ARRESTS A CHINESE NATIONAL IN CONECTION TO ACCLAIM BLQ SPORTS FRAUD@PollyNamaye "A team from @CID1_UG has today 23.06.2023 arrested Mr Yinghe Chen aged 43 years of Chinese Nationality and a resident of UCB Zone in Bukoto 1, Nakawa Division in Kampala.

This follows an… pic.twitter.com/cBbSTchQJN

— Uganda Police Force (@PoliceUg) June 23, 2023

Total Arrests and Court Proceedings

With the arrest of the Chinese national, the number of individuals apprehended in connection with the scam has reached five. The others include Mary Awori, the wife of Chen Yinghe, another Chinese national, who were both registered as directors for BLQ Sports.

Additionally, Akoth Justine Oboth, Achola Mary, and Biira Shamim have been arrested and remanded after being implicated in the scam.

Victims and Losses

It is estimated that the scam has affected around 6,000 Ugandans, resulting in losses exceeding shs4.5 billion. Acclaim BLQ Sports SMC attracted many people to the online betting company with its slogan “You lose, You win.”

Legal Proceedings and Ongoing Investigation

Chinese National Arrested for Acclaim BLQ Sports Online Betting Fraud

The arrested Chinese national is expected to be brought before the courts of law while the search continues for other owners and directors of the fraudulent company.

Editor’s Note: If you find any of our content to be inaccurate or outdated, please contact us at press@nowthendigital.com

You’re reading nowthendigital.com — which breaks the news about Uganda, Kenya, Nigeria, South Africa and the rest of the world, day after day. Be sure to check out our homepage for all the latest news, and follow NOW THEN DIGITAL on YouTube, Google, Web Stories, Google News, Medium, LinkedIn, Twitter, Reddit, Pinterest, Linktr, Buy Me a Coffee, and Flipboard to stay in the loop.

Source: Now Then Digital
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Ssendaza Ismail

Ssendaza Ismail

A blogger that gives you the latest news and gossip on the hottest local and international celebrities. Previously, Ismail worked as a System Administrator at Pearl VoIP & 3GTelecommunication UK for 6 months as remote Network operations center engineer (NOC). Let's talk, WhatsApp: +256753659743

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