Businessmen Nazar, Azruddin Mohamed face tax-related charges

– duo charged for under-reporting related to gold exports

U.S. sanctioned businessmen Nazar Mohamed and his son, Azruddin Mohamed, principals of Mohamed’s Enterprise, are facing a series of tax-related charges filed by the Guyana Revenue Authority (GRA) before the Georgetown Magistrates’ Courts.

The total alleged under-reporting by Nazar and Azruddin is approximately $32.69 billion.
The charges, initiated by GRA’s Commissioner-General Godfrey Statia, allege that the duo understated billions of dollars in taxable income from gold exports between 2020 and 2024.
According to multiple summonses issued in October 2025, the GRA alleges that Nazar Mohamed made incorrect tax returns over five consecutive years, contrary to Section 110(1)(a) of the Income Tax Act, Chapter 81:01.
The complaints state that Nazar significantly understated his tax liabilities in relation to gold exports filed between 2020 and 2024. For the 2020 tax year, Nazar is accused of declaring a liability of $63.2 million, allegedly understating his taxable income by $4.86 billion.
In 2021, his tax liability was allegedly understated by $4.94 billion. The following year, 2022, saw an even larger discrepancy, with an alleged understatement of $7.03 billion.
In 2023, the figure remained substantial at $6.96 billion, while in 2024, he is said to have understated his liability by a further $5.33 billion.
Nazar allegedly under-reported his taxable income from gold exports by approximately $29.12 billion between 2020 and 2024. Separate but similar charges were also filed against Azruddin Mohamed, who is accused of under-reporting taxable income for the years 2020 to 2023.
The complaints allege that Azruddin understated his taxable liabilities in connection with gold export activities in the following amounts: $540,255,303 in 2020, $549,179,282 in 2021, $781,294,136 in 2022, and $1,738,834,069 in 2023.
Azruddin allegedly understated his taxable income from gold exports by around $3.61 billion between 2020 and 2023.
Each of these charges alleges that the businessmen made an incorrect return by understating income which he was required to declare to the Revenue Authority.
Both Nazar and Azruddin have been summoned to appear before the Georgetown Magistrates’ Courts today at 9:00h. to answer the charges.
The offences, if proven, fall under provisions of the Income Tax Act that criminalise false or misleading tax returns. Convictions could result in heavy fines, repayment of taxes owed, and potential imprisonment.
The GRA filed the series of complaints after what is believed to have been a detailed audit into the gold export records of Mohamed’s Enterprise.