One person is in custody at Jinja Central Police Station in connection to fraudulent transactions where hundreds of people lost millions of shillings.
Police could however not give details of the suspect for fear of interfering with investigations.
It is alleged that the suspect is part of a group of people who opened up a pseudo company in the names of Crane Financial Services and started soliciting for money from people with promise of giving them cheap loans.
The victims were asked to pay between Shillings 20,000 and 50,000 for registration and record book respectively and 10 percent of the total amount of money one wants to borrow.
However, hardly a month into the business, the offices of the company located on Green Summer Building on Clive West Road in Jinja Municipality, are closed since Wednesday. None of the victims had been given any money. Hundreds of them have since reported cases at Jinja Central Police Station.
According to Jinja District Police Commander, Jamada Wandera, the suspect will lead the police to more than ten other suspects still at large.
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However, the victims are not satisfied with the speed at which police is handling the case. They claim that they do not trust the police because some officers and leaders could be involved given the way the company managers disappeared. They demand that the police breaks into the offices and get people's documents presented as collateral.
Many of the victims gave in their land titles, and car and motorcycle purchase cards among other items as collateral.
Nalongo Nuru, a trader in Napier Market, says that she handed in her land title to access a loan of 1.5 million shillings to start a business after she lost her merchandise in the fire that burnt the market last month.
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Wandera says that police has already submitted a request to court to get access to the offices. He notes that they expect a court order next week.