Govt to inject “enormous resources” to crack down on gold smuggled from Venezuela – Pres Ali

– as US warns of threat from the illicit activity

President Dr Irfaan Ali on Friday night committed to putting the necessary measures in place to curb Venezuelan gold from being smuggled into Guyana.
This comes as Guyana received an advisory from the United States earlier on Friday about the threat that this illicit activity poses by funding the Nicolás Maduro regime.

Speaking at a reception hosted by the United States Embassy in Georgetown to celebrate the 249th anniversary of America’s independence, the Guyanese head of state disclosed that the US reminded all of its partners about this serious threat from Venezuela.
“Only today, the US reminded all of its partners about the serious threat with Venezuela, as it relates to gold smuggling. And we have received that advisory today, and we want you to know that we are putting enormous resources into ensuring that the threat of illicit gold smuggling that could help to empower or safeguard undemocratic forces is uprooted,” President Ali stated on Friday evening.
Local authorities have long suspected that Venezuela is smuggling gold into Guyana to be laundered through various networks here.
In recent years, there has been a widespread crackdown on gold smuggling in Guyana with a series of operations targeting foreign nationals suspected of being involved in unlawful mining activities here.
According to President Ali, the US, through its Bureau of International Narcotics and Law Enforcement Affairs, has been supporting ongoing efforts to enhance law enforcement and security cooperation with Guyana as well as the wider Caribbean.
He pointed out that the March 27, 2025 signing of a Memorandum of Understanding (MoU) during the visit of US Secretary of State Marco Rubio underscores the joint commitment between Washington DC and Georgetown to addressing common security challenges.
“The MoU builds on our long-standing partnership and aims to deepen collaboration in areas such as counter narcotics and the fight against transnational organised crime and strengthening security and defence cooperation,” President Ali stressed.
Back in June 2024, the US sanctioned Guyanese businessmen Nazar and Azruddin Mohamed, along with their businesses: Mohamed’s Enterprise, its subsidiary Hadi’s World, and Team Mohamed’s Racing Team, over gold smuggling and public corruption allegations.
According to the US Treasury Department’s Office of Foreign Assets Control (OFAC), Mohamed’s Enterprise smuggled some 10,000 kilogrammes of gold out of Guyana between 2019 and 2023, thus avoiding paying more than US$50 million in duty taxes.
Shortly after the sanctions, Guyana had requested the relevant information and documentation from the US Department of Justice (DoJ) to assist local investigations on the allegations of falsification of import and export documents, evasion of taxes, and bribery of customs and government officials to facilitate illicit gold shipments and the award of government contracts.
In addition, the Guyana Revenue Authority (GRA) had also requested information, dating back to 2015, from the US’ Internal Revenue Service (IRS).
Some nine months after that request, local law enforcement agencies, including the Guyana Police Force (GPF) and GRA, received a ‘sufficient volume’ of evidence to take action against the businessmen.
Attorney General Anil Nandlall, S.C., had told reporters at the time that “the law enforcement agencies in Guyana, along with the Guyana Revenue Authority, have expressed the opinion that they have a sufficient volume of evidence, information, data, and documents…to proceed [and] act upon it. GRA, I suppose, will act upon the allegations of tax evasion. The Guyana Police Force, through its appropriate departments, will act upon other aspects of the data or evidence… So, that will take place shortly.”
Nandlall added that this is an ongoing investigation, and the local authorities are continuing to work with the US on this matter.
Meanwhile, in addition to the Mohameds, the US had also sanctioned former Permanent Secretary of the Home Affairs Ministry, Mae Thomas, for public corruption. Thomas, who was moved to the Labour Ministry before being sent on administrative leave in June last year, remains on admin leave.
In OFAC’s June 11, 2024 sanctions, Under-Secretary of the Treasury for Terrorism and Financial Intelligence, Brian E. Nelson, said, “Today’s action underscores our commitment to holding accountable those who seek to exploit Guyana’s underdeveloped gold sector for personal gain… Treasury, in close coordination with our partners in US law enforcement, will continue to take action to safeguard the US financial system from abuse by corrupt actors.”