In the latest case of white-collar crime, Rwanda Investigation Bureau (RIB) has launched an investigation into Gad Mugabo, a businessman who through his company, Gad Motors, allegedly defrauded people of Rwf 100 million, promising to import vehicles for them from South Korea. TNT reports
Thierry Murangira, RIB spokesperson, confirmed to The New Times that they received complaints from several clients of Mugabo, a development that prompted them to initiate an inquiry into the matter.
“As we carried out investigations, we learned that he defrauded many more people,” Murangira said, pointing out that Gad Motors’ operations look similar with those of previously prosecuted companies involved in white-collar crimes, such as Tom Transfers and P&A Group.
Tom transfers company came to the limelight in 2023 for the wrong reasons, after being sued by people for allegedly duping them of money worth Rwf 2 billion, promising to import cars for them but they did not receive them and did not get reimbursed.
As for P&A, its founder Prince Shema, 20, was accused of defrauding 13 people of Rwf 70 million, and promised to import vehicles for them from Dubai.
Murangira issued a warning to the public regarding such entities, urging vigilance, especially when dealing with businesses claiming to import cars or conduct online transactions.
“We urge the public to exercise caution, particularly when it comes to dealing with businesses which claim that they import cars, or carry out online trade transactions and investment opportunities,” he noted.
“If these companies are real car importers, why do they request funds upfront rather than executing the importation process first?” he asked.
It is understood that Mugabo is currently out of the country.
