Gold Export Fraud Charges Could Lead to US Extradition of Guyanese Tycoons
Guyanese gold magnates Azruddin and Nazar Mohamed face potential US extradition on major fraud charges involving $50M in unpaid taxes on gold exports, amid political tension and economic scrutiny.
Gold bars seized at Miami airport in connection with alleged fraud scheme by Guyanese business leaders
Major Gold Export Scandal Rocks Guyana's Business Elite
Guyana's Attorney General has confirmed that businessman Azruddin Mohamed and his father Nazar Mohamed face potential extradition to the United States on serious fraud and money laundering charges related to their gold export operations. The announcement comes as Guyana continues to strengthen its position as a growing hub for international trade and commerce.
Complex Fraud Scheme Uncovered
According to Florida court indictments, the Mohameds, owners of Mohamed's Enterprise, allegedly orchestrated an elaborate scheme involving fraudulent reuse of customs declarations and seals for gold shipments to Miami and Dubai. The case highlights the challenges facing Guyana's rapidly evolving economy and regulatory framework.
Significant Financial Impact
Prosecutors allege that the scheme, which began around 2017, involved approximately 10,000 kilograms of gold exported through Miami without proper payment of Guyanese taxes and royalties. This resulted in an estimated $50 million loss to the Guyanese government, undermining efforts to boost the nation's legitimate trade infrastructure.
Political Implications
The case carries significant political weight as Azruddin Mohamed, positioned to become Guyana's opposition leader by November, claims political persecution. His recently formed party won 16 parliamentary seats in September's general election.
"Fearing the momentum seen at the last election and the cry of the Guyanese people for change, they are doing everything possible to stop me," Mohamed stated on Monday.
Legal Proceedings and Asset Seizure
U.S. prosecutors are seeking to forfeit various assets, including a $5.3 million gold bar shipment seized at Miami airport last year. The U.S. Treasury has already imposed sanctions on the businessmen over these allegations.
Attorney General Anil Nandlall emphasized that the extradition process would follow established legal frameworks between the United States and Guyana, pending formal U.S. request.
Adrian Singh
Business reporter focused on economic freedom, foreign investment, and institutional transparency.