Guyanese under probe for allegedly laundering US$16.4M in gold in Brazil
Brazilian federal authorities are investigating a Guyanese businessman suspected of laundering over R$80 million (US$16.4 million) worth of illegally mined gold through several companies operating in the foodstuff and medical supply industries.
According to an article published by the Ministry of Justice and Public Security, the investigation, known as Operation Vanglória, focuses on individuals believed to have facilitated the movement of illegally sourced gold from neighbouring Guyana into Brazil.
Brazilian federal authorities during the investigation
The probe was initiated after authorities discovered the involvement of an alleged Guyanese businessman, who has ties to the gold mining industry in Guyana and conducts business in Brazil under suspicious circumstances.
As such, the association linked the businessman to a Manaus-based company registered as a foodstuff provider, but upon investigation, it was revealed that the listed address was allegedly a vehicle shop operating under a different registration.
Federal Police agents suspect that the Guyanese businessman has a Brazilian partner who aided in the movement of funds through the companies.
One of these entities, purportedly involved in the trade of hospital supplies, has allegedly laundered over R$60 million (US$12.3 million) worth of gold through its operations, despite having no physical presence at its registered address.
Brazil, due to its size and numerous bordering countries, has become a hotspot for gold smuggling activities. With nearly 200 ports along the Atlantic Ocean, the country serves as an ideal starting point for criminal organisations seeking to smuggle gold out of South America and into lucrative markets like the United States, Asia, and the Middle East.
It is estimated that around 30 tonnes of gold, valued at approximately $1.86 billion, is illegally extracted from Brazil each year.
As part of Operation Vanglória, Brazilian authorities said they have executed three search and seizure warrants in their efforts to locate the gold.
