Tycoon Lwasa released on bail

Earlier last week, Lwasa posted a video of himself holding a bar of gold and other bars in a polythene bag. In this video he is seen talking about a business deal that he was about to seal with his buyer.

After that video circulated on different social media platforms shows Lwasa being arrested after a day and he was detained at CPS in Kampala as he awaited court release or bond.

It should be noted that this was not the first time Lwasa was being alleged to be involved in such deals and fraud though there wasn’t any proof of the allegations in the past.

A one Jeff claims he and some colleagues got Lwasa arrested over his selling them fake gold after they gave him over 200 million shillings on December 2nd 2020.

When they found out the gold was fake, Lwasa promised to give them genuine gold but ever since then he has been playing hide and seek with them and they had to act effectively by involving police. Jeff said all this in a phone interview with journalists.

Lwasa has been released on police bond with undisclosed conditions from the authorities. A video of Lwasa has been trending on different social media platforms of him having a heavy lunch with his newly introduced wife Angel and other friends. In the video, they are heard welcoming him back from prison.