Authorities and industry insiders have raised an alarm over an international gold fraud syndicate believed to be operating across Uganda, South Africa, and Dubai, defrauding unsuspecting investors and traders through fake gold transactions.

The suspects, identified as Imran Hasim, a South African national, and Shaik Abdul Suhail, reportedly of Indian origin from Hyderabad, Telangana, are said to be key figures in a network that uses front companies and forged documentation to lure victims with promises of lucrative gold deals.

According to intelligence sources, the fraudsters typically claim to have access to large quantities of gold sourced from East Africa, particularly Uganda, which they offer at discounted prices to attract buyers from Asia and the Middle East. Once payments or deposits are made, the victims are given counterfeit gold bars or fake export documents before the suspects disappear.

Investigations have linked the group to several fraudulent operations in Kampala, Johannesburg, and Dubai’s Deira district, where they are said to have maintained temporary offices to appear legitimate. Victims have reportedly lost hundreds of thousands of dollars to the scam, with some cases currently under investigation by security and financial intelligence agencies.

Law enforcement agencies have urged the public, especially gold dealers and investors, to exercise caution when engaging in cross-border mineral transactions and to verify the authenticity of companies and documents before committing funds.

Authorities in Uganda and South Africa are reportedly coordinating with Interpol to track down the suspects, who are believed to be constantly moving between the three countries.

The public has been urged to report any information about Imran Hasim or Shaik Abdul Suhail to local police or anti-fraud units to help dismantle the syndicate and prevent further financial losses.