Ugandan businessman Sudhir Ruparelia has once again become the subject of an online fraud scheme, with scammers exploiting his identity to promote a dubious money-making platform aimed at unsuspecting members of the public.
The misleading promotion, which has been circulating as a sponsored post on Facebook under the page “Uganda 24/7,” claims that a newly introduced digital platform can deliver rapid financial returns with minimal investment.
According to the advert, individuals can allegedly invest as little as Shs936,422 and earn upwards of Shs7.5 million within a matter of weeks, a promise experts warn is highly unrealistic and indicative of fraud.
The post features an image of Ruparelia holding bundles of cash alongside a tablet displaying a sharply rising graph, creating the false impression that he endorses or is directly affiliated with the scheme.
However, sources close to the businessman have firmly dismissed the claims, stating there is no connection between the platform and either Ruparelia or the Ruparelia Group.
The tycoon, known for his investments in real estate, hospitality, banking, and education, has not launched or endorsed any such online earning initiative.Further scrutiny reveals that the advert directs users to an unfamiliar website, raising serious concerns about its credibility, ownership, and purpose.
Cybersecurity experts say the scheme exhibits several well-known characteristics of online fraud. These include the unauthorised use of a prominent public figure to build trust, promises of unusually high and guaranteed returns within a short period, pressure on users to invest quickly, and links to unverified platforms.
Such tactics are commonly associated with scams designed to extract money, collect sensitive personal data, or lure victims into Ponzi-type operations.This incident underscores a growing trend in Uganda where fraudsters impersonate high-profile individuals to legitimise fake investment opportunities.
Ruparelia has in the past cautioned the public about the misuse of his name and image in similar scams circulating across social media.Experts are now urging the public to exercise caution by verifying investment opportunities through official company channels, avoiding platforms that promise guaranteed profits, refraining from sharing personal or financial information on suspicious websites, and reporting fraudulent adverts to relevant authorities and platform administrators.