Angella Vivienne Chebet Birungi, wife to Sulaiman Kabangala (SK) Mbuga, has been arrested and detained as well.
Birungi is being held at CID headquarters in Kibuli on allegations of money laundering.
She was picked on Thursday by detectives from a washing bay in Muyenga, a Kampala residential area.
A case of money laundering vied GEF132/2018 was opened against Birungi last year. She has been on police’s wanted list.
On Thursday, Birungi was first detained at Katwe Police Station pending further management.
On arrest, Birungi was found with a dual citizenship passport indicating she was planning to flee the country.
Reports say Birungi will be extradited to Sweden where she faces other charges for fleecing 53m Kronor (about Shs23bn) from a company account she jointly ran with her former boyfriend, Sten Heinsoo.
Her husband Mbuga was released last week from a Dubai prison and handed over to Danish authorities.
Mbuga will be tried in Denmark for the $2.6m (Shs9.5bn) fake gold deal.
Authorities in Sweden had requested UAE government to hand over Mbuga for fleecing 53m Kronor with his wife Birungi.