South Sudan ‘tycoon’ who sleeps in dollars remanded to Luzira over fraud
South Sudan ‘tycoon’ Lawrence Malong Lual Yor who recently posted a video of himself “drowning” in a pile of US dollar notes has been charged with fraud and remanded to Luzira prison.
On Thursday, Buganda Road magistrate’s court was told that Malong, 30, and two others including Thaddeus Zikusooka, a Ugandan businessman and Mike Okitalunyi Lota, a Congolese broker defrauded an Ethiopian businessman in a bogus gold deal.
It is alleged that the trio duped South African based businessman that they wanted to sell him gold at $23,000 per kilogram.
Malong would later offer himself as a gold trader with a licence and that the group would sell the businessman 150 kilograms of money, prompting the latter to give them money.
In the end, the deal turned out to be fake because the trio took the money and never delivered the promised gold.
Prosecution alleges that between February 2017 and December 2018 at different places in Kampala, the trio obtained $1.9 million from businessman Wegnew Desire purporting to be selling him 150kg of gold whereas not.
Buganda Road magistrate, Joan Ketty Acaa remanded the trio to Luzira prison until April 4.
The flamboyant tycoon was last year arrested by the Internal Security OrganizationI(ISO) from Milano Hotel in Kabalagala before detaining him for a number of day.
He was later released without any charge.
Lawrence Lual Malong Junior came into limelight last year when he posted a video of himself “drowning” in a pile of US dollar notes.
In the video, he bragged about living a very expensive lifestyle including flying in a presidential jet and wearing shoes worth $10,000.
The video went viral prompting many to link him to former South Sudanese army chief, Gen.Paul Malong Awan. Some people claimed he was the general’s son adding that that is how he got his wealth.
Both the young and old Malong denied being related to each other.
“I am not a son of General Malong. When you’re calling me his son, you are abusing me. I am Lawrence Lual Malong Yor Jr. I always mention it in every video, even the video I’m swimming in money. My dad is Lual Malong Yor Snr. Then I became Lual Malong Yor Jr,” the young Malong said during an interview with Kenya’s Citizen Television last year.
