Money laundering probe: High Court grants SOCU order to hold $160M in gold, cash

The High Court has granted a detention order allowing the Special Organised Crime Unit (SOCU) to hold gold and cash valued at more than $160 million as part of ongoing money laundering proceedings.
On Monday, upon application by SOCU, acting Chief Justice Navindra Singh granted a Detention Order pursuant to section 37A of the Anti-Money Laundering and Countering the Financing of Terrorism Act, Cap. 10:11 (AML/CFT Act).
The Order permits SOCU to detain 4018.15 pennyweights of gold valued at $80,911,765 along with currency amounting to $81,101,200.00. The assets are identified as properties belonging to Sebastiao De Oliveira Moura and Gago Gold Inc.
The matter stems from a joint operation conducted on February 7, 2024, involving SOCU, the Natural Resources Ministry, the Guyana Gold Board (GGB), and the Guyana Geology and Mines Commission (GGMC). Following that operation, SOCU obtained several detention orders from the High Court to hold the assets until May 6, 2025.
However, before those orders expired, then Chief Justice (ag) Roxane George ordered the release of the properties on April 3, 2025.
On April 4, 2025, SOCU instituted five counts of money laundering charges against Moura under section 3(1)(c) of the AML/CFT Act.
Subsequently, on November 26, 2025, acting on an order dated November 25, 2025, SOCU returned the assets to the respondents, but later re-seized them on the same day.
Following the re-seizure, SOCU applied to the court for a new detention order, arguing that the assets are tainted property and proceeds of crime, derived from money laundering, and at risk of dissipation if not preserved. The agency also maintained that the assets are linked to ongoing criminal proceedings in the Magistrate’s Court and are required as evidence.
Despite objections from Defence Attorneys Latchmie Rahamat and Naresh Poonai, the court granted the application.
In his ruling, Chief Justice (ag) Singh stated that the property had been physically returned in compliance with a prior court order, and that the earlier decision by former acting Chief Justice George did not determine whether the assets were tainted.
“There being no such adjudication with respect to the property, the applicant is entitled to seize the property under section 37A of the AML/CFT Act,” the Chief Justice ruled.
He further found that the respondents failed to present a viable defence against SOCU’s application and noted that the agency had provided sufficient evidence to justify the detention.
“The applicant has set out cogent evidence demonstrating that it has reasonable grounds to seize the property and is justified in seeking detention orders for same,” the ruling stated.
The Court also awarded costs to SOCU in the sum of $500,000.00, to be paid on or before April 23. SOCU was represented by Attorney-at-Law David Brathwaite in the proceedings.
Only on Tuesday evening, Attorney General and Legal Affairs Minister Anil Nandlall had indicated that more high-profile asset seizures are expected in the near future, as authorities are working on forfeiture proceedings for hundreds of millions of dollars in suspected proceeds of crime.
Nandlall argued that asset recovery was an essential component of modern law enforcement, noting that once it is established in a court of law that such monies are illicit, it is channelled into the Consolidated Fund, as provided for under the law.