Subscribe & Follow

Advertise your job vacancies

BizTrendsTV

RAPT BizTrendsTV: Google's country director, Kabelo Makwane: Collaboration is key for Africa

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.

By Craig Wilson

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.

Continue reading the full story on www.techcentral.co.za

Craig Wilson

About Craig Wilson

Craig Wilson is an ICT journalist and speaker based in Johannesburg. He is deputy editor at TechCentral, the South African source for technology news, reviews and opinion, and regularly provides insight into the technology industry for radio and television. Email him at az.oc.lartnechcet@giarc, follow @craigwilson on Twitter and connect on LinkedIn.