KAMPALA, Uganda: For, and over fraud allegations, Euro Gold Refinery claims that an investigative report aired and published by both Daily Monitor and NTV Uganda, between October 2nd and 4th 2024, falsely linked them to a fraudulent gold deal that cost the German investor Christian Arndt, UGX5 billion.
Euro Gold Refinery has therefore taken legal action against Monitor Publications, NTV Uganda, and their journalists Andrew Kyamagero and Busein Samilu, accusing them of reportedly publishing false and defamatory reports that severely as claimed, have damaged its business and reputation.
Through Candia Advocates and Legal Consultants, the company has filed a lawsuit seeking a public retraction, the removal of contested content from social media, and compensation for financial losses. The contested reports, including a Daily Monitor article titled; “How Investor Lost Shs5 billion in Gold Scam” and an NTV investigative series; “German National in Tears After Being Fleeced,” allegedly portrayed the company as involved in smuggling, fake documentation, and fraudulent business practices.
Euro Gold Refinery argues that these allegations have had severe business consequences, leading to the cancellation of contracts worth millions of dollars and the closure of its accounts by Stanbic Bank Uganda. “More than ten of our partners, stakeholders, and customers lost confidence and canceled transactions,” said the company’s Managing Director, Ben Feni.
“The unfortunate publication damaged our reputation, giving us negative reviews online and undermining years of effort in building trust.” The refinery insists it operates legally under government oversight and has actively promoted transparency in Uganda’s gold trade. “We are a licensed and reputable company that adds value to minerals and people’s lives,” said Operations Manager Sam Anecho, adding that the allegations tarnished not only their business, but also Uganda’s appeal as a gold trade hub.
The company also faults the media houses for failing to seek its response before publication. “What is even more frustrating is that they never contacted us for our views but instead created false narratives,” Anecho said. Euro Gold Refinery’s lawyer, Emmanuel Candia, noted that social media has amplified the damage, with the contested content continuing to circulate globally.
“Unlike live broadcasts, YouTube videos keep gaining viewership long after airing, making the harm even more extensive,” he said, arguing that this case could set a precedent for corporate reputation protection in Uganda. The defendants have been served with court papers and have 15 days to file their defense. If successful, the lawsuit, seeking over one million dollars in damages, could become a landmark case in addressing corporate defamation and the role of digital media in shaping business reputations.
Author Profile
- Mr. Daniels N. Tatya is an affluent Sports Writer, Commentator and Editor. His over 15 years of covering almost major sporting events makes him a revered and an authority on investigative Sports journalism in Uganda. He can also be reached via [email protected] +256(0)758268315
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