Foreign support may be necessary to stamp out gold smuggling – Jagdeo

United States sanctioned two members of the Mohamed’s family and Permanent Secretary of the Ministry of Labour, Mae Thomas over alleged gold smuggling and corruption.

The US Department of the Treasury, in a statement this week, said between 2019 and 2023, Mohamed’s Enterprise omitted more than 10 thousand kilogrammes of gold from import and export declarations and avoided paying more than US $50 million in duty taxes to the Government of Guyana.

Mohamed’s Enterprise has also been accused of bribing customs officials to falsify import and export documents, as well as to facilitate illicit gold shipments.

With these sanctions in place, the Government of Guyana is assessing what steps need to be taken now to comply with those penalties. Jagdeo said Bank of Guyana and other local financial bodies are creating a full report on what actions are needed to ensure that the country is in full compliance with the sanctions.

Already, the cambio license for the Mohameds is to be cancelled.