Oyztar Minerals Company Limited, a Ugandan Precious Minerals Trading firm, has strongly refuted recent allegations made by foreign investors, claiming they were defrauded in a gold transaction worth approximately $4.9 million.
Online reports recently suggested that the company was involved in orchestrating a fraudulent scheme.
However, a representative of Oyztar Minerals, who spoke on condition of anonymity, denied the accusations, asserting that the company has never been involved in any such fraudulent activities.
The representative explained that no formal complaint had been made to the company concerning the alleged gold transaction.
"There has never been any case reported to the police regarding these baseless allegations. The company has not received any funds as claimed in the reports," the official clarified.
Oyztar Minerals Company Limited has urged law enforcement agencies to investigate the origins of what it described as "malicious allegations" and take appropriate action against those responsible for spreading false information.
The representative further emphasized that no stakeholders have filed any complaints against Oyztar Minerals, countering reports that implicated the firm in the alleged fraud.
"Oyztar Minerals Company Limited maintains its innocence and is calling for a thorough investigation to uncover the truth behind these allegations," the official added.
Oyztar Minerals Company Limited is a reputable company involved in mineral exploration, processing, sales, and trading brokerage.
