Four men have been arrested by police after attempting to defraud Post Bank, Masindi town branch.
The Masindi district police commander Samuel Odongo identified the suspects as Gerald Abigaba, a resident of Kyema, Julius Kagoro, a resident of Kisarabwire, Rajab Safiq, a resident of Kisarabwire and Ira Hassan, a resident of Kyema in Karujubu division in Masindi district.
Odongo said that police first arrested Abigaba and Kagoro on Monday after receiving a call from the bank manager as they tried to exchange fake dollars amounting to $700 into Ugandan currency.
The DPC revealed that Abigaba and Kagoro mentioned after their arrest that Hasan and Rajab are the ones who had sent them to exchange the money and led police to them resulting into their arrest later.
Odongo added that police was still investigating the matter with the aim of establishing and arresting the people involved in the distribution of counterfeit.
The police officer says the suspects would be charged with possession of counterfeit money.
He also asks the public to always be keen when receiving money to avoid being coned.