Over $193M in cash & gold seized as socu cracks down on smuggling ring

…Essequibo goldsmith, Brazilian charged with gold smuggling, money laundering

The Special Organised Crime Unit (SOCU) conducted a joint intelligence-led operation on Monday that resulted in the seizure of two illegal firearms and a large sum of cash at the premises of Essequibo businessman and gold miner, Ramanand Ganesh, also known as “Goldman,” located in Middlesex, Essequibo Coast, Region Two (Pomeroon-Supenaam).

During the operation, SOCU arrested Ganesh and his wife, Vallina Ganesh, who are currently in custody and assisting with ongoing investigations into gold smuggling and money laundering activities.
SOCU in a statement on Monday evening reaffirmed its commitment to the investigation and prosecution of gold smugglers and money launderers, highlighting the agency’s dedication to safeguarding the integrity of Guyana’s natural resources sector.
Meanwhile, also on Monday, SOCU also charged 43-year-old Brazilian national Sebastiao De Oliveria Moura, director of Gago Gold Inc, with five counts of money laundering. Moura, previously charged with failing to maintain financial records in compliance with the Guyana Gold Board Act, was presented at the Georgetown Magistrates’ Courts before acting Chief Magistrate Faith McGusty.

Moura was not required to plead to the charges, which contravene the Anti-Money Laundering and Countering the Financing of Terrorism Act, Chapter 10:11. The court granted him bail in the amount of $1,750,000 for the five charges, with the case adjourned to April 22.
The charges stem from an investigation initiated by SOCU on February 7, 2024, following a joint operation involving SOCU, the Ministry of Natural Resources, the Guyana Gold Board (GGB), and the Guyana Geology and Mines Commission (GGMC). Officers executed a search at Moura’s business premises at Albert Street, Bourda, Georgetown, uncovering substantial quantities of illicit items.
During the search, Police discovered $81,101,200; US$6,057, SRD$240, 4018.15 pennyweights of gold valued at $112,588,563, and 3.5 grams of diamonds. These items are believed to be proceeds of crime, linked to money laundering and gold smuggling activities.

The investigation, which has been ongoing for over a year, has led to charges against Moura for possessing and acquiring these items knowing or having reasonable grounds to believe they were derived from criminal activity. Authorities maintain that these proceeds of crime fall under the scope of money laundering and gold smuggling offenses as outlined in the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2009.