Renowned Kampala lawyer Isaac Kyagaba and PT HRTC Exploration and Production have strongly denied allegations linking them to an Shs18 billion gold fraud, as reported by social media. In separate official statements, both Kyagaba and the company dismissed the accusations as false, misleading, and defamatory.
According to online platforms, Kyagaba was allegedly implicated in a fraudulent gold transaction in which he reportedly received USD 500,000 (approximately shs1.9B) without remitting it to authorities and presented a fake customs declaration form. However, through his legal representatives, Kirunda & Co. Advocates, Kyagaba has refuted these claims, calling them “false and malicious.”
“Contrary to the reports in the impugned story, Mr. Kyagaba was not at all involved in any ‘gold heist.’ He did not orchestrate any fraudulent scheme, neither is he implicated in one,” reads the statement from Kirunda & Co. Advocates. The firm further clarified that Kyagaba never received the alleged funds nor issued any customs declaration related to the said gold transaction.
PT HRTC Exploration and Production, the company allegedly linked to the transaction, also issued an official statement categorically denying the accusations. The company, headquartered in Jakarta, Indonesia, stated that neither Kyagaba nor their legal representatives, Dentons, received any such funds.
“The claims that he received $500,000 without remitting it to authorities and that he presented a fake customs declaration are completely false, misleading, and defamatory,” said Bunga Mentari, the Director of PT HRTC. The company urged the public to disregard the allegations and called on law enforcement to investigate the source of the false claims.
Kyagaba has vowed to take legal action against the online platforms and those responsible for what he calls a deliberate attempt to tarnish his reputation. His lawyers at Kirunda & Co. Advocates have assured that they will pursue the matter in the appropriate legal forums without restraint.
Both Kyagaba and PT HRTC maintain that they are committed to transparency, integrity, and ethical business practices.
