Four arrested at Agenda 501 Hotel with Millions in Fake Cash
LIRA CITY — A joint security sweep the Uganda Police Force and the Uganda People’s Defence Forces (UPDF) has led to the arrest of four suspects following the recovery of millions in suspected counterfeit currency.
The suspects were cornered during an intelligence-led operation at the Agenda 501 Hotel, located in Ireda East Ward, Lira City East Division.
The Seizure
During the raid, security forces recovered:
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Shs3 million in suspected counterfeit Ugandan shillings.
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An assortment of manufacturing materials and chemicals believed to be used in printing illicit bank notes.
“The suspects are currently in custody as our teams piece together the network behind this racket,” said Superintendent of Police Jimmy Patrick Okema, the North Kyoga Police regional spokesperson. “The confiscated exhibits are being prepared for forensic verification the Bank of Uganda to ascertain their authenticity.”
A Growing Trend?
This operation highlights an escalating battle against financial fraud in the sub-region. Just weeks prior to this raid, a separate high-stakes security operation in Lira City uncovered a staggering US$9 million in suspected counterfeit American currency, raising red flags over a potential syndicate operating in Northern Uganda.
Investigations remain ongoing as police work to determine if the two incidents are linked to a wider counterfeiting ring. Security officials have urged local business owners and hotel operators to remain vigilant and report any suspicious financial activities.