Ugandan gospel artist, entrepreneur and proprietor of Euro Gold Refinery, Benard Feni, popularly known as Mungu Feni, has been released on police bond in Uganda after reportedly agreeing to cooperate with investigators probing a multi-billion-shilling gold fraud of about $3.3 million involving businessmen, gold-trading companies and individuals accused of using military connections to facilitate disputed transactions.

Benard Feni was arrested on September 8, 2026, and detained at the Special Investigations Unit in Kireka alongside three other suspects. The arrests followed a directive from President Yoweri Museveni after two Sudanese investors complained that they had lost hundreds of thousands of dollars in a gold transaction.

Military court remands three suspects

Benard Feni and another suspect, a forex trader identified only as Agaba, were released from the Special Investigations Unit in Kireka on October 2, 2026. Benard Feni’s release reportedly followed an agreement to provide investigators with evidence on how the transactions were arranged, how investors lost their money, and the alleged roles of other members of the network.

The investigation has intensified, with Feni’s co-accused Mohammed Ali, Trevor Besigye and a Uganda People’s Defence Forces officer reportedly arraigned before the military court in Makindye last week and remanded into military detention.

The suspects are accused of using military stores, purported UPDF receipts and impersonating military officers in connection with the disputed gold transactions. Investigators are examining whether the alleged use of military identities and documents was intended to reassure investors that the gold transactions were legitimate and secure.

The case centres on a gold deal involving millions of dollars and has expanded to include allegations of forged documents, suspicious payments and the possible involvement of multiple businesses.

If Feni formally cooperates with prosecutors, his account could help investigators reconstruct the transactions, trace the movement of investors’ funds and establish the respective roles of those allegedly involved.

Museveni orders investigation into investors’ losses

The case has attracted the attention of Ugandan President Yoweri Museveni after investors reportedly complained to him about their financial losses and unsuccessful attempts to recover their money.

Museveni subsequently directed the Inspector General of Police to oversee the investigation and pursue recovery of the investors’ funds if their allegations are substantiated.

The presidential directive has added pressure on investigators to establish how the disputed transactions were executed, identify those responsible, and determine whether the investors’ money can be recovered.

Feni’s reported agreement to cooperate could become a significant development in the investigation, particularly as other suspects remain in military detention. However, the allegations remain subject to investigation and judicial determination, and the reported release on police bond does not establish guilt or exoneration.