Arrest in $3,8m MTN fraud probe
The mobile operator's Ugandan subsidiary appears to have been taken for a ride by one of its suppliers after allegedly receiving falsified invoices worth millions of dollars for equipment it never received.
12 Sep 2012
MTN Uganda has uncovered what it calls "irregular payments" totalling US$3,8m and has reported the matter to local police. The payments pertain to invoices for equipment the network never actually received.
Uganda's The Monitor newspaper reported at the weekend that MTN Uganda had been defrauded to the tune of $3,8bn for undelivered network equipment, but the actual figure is $3,8m, according to an MTN spokesman.
The company accused of the con is Threeways Shipping Services. Allegedly, the company submitted numerous fabricated shipping invoices to the mobile operator starting in 2009.
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