Port Kaituma businessman charged for illegally purchasing gold

An Essequibo businessman who was allegedly involved in buying gold in the Port Kaituma district without the necessary documentation was on Tuesday charged by the Special Organised Crime Unit (SOCU).
Tarique Deonarine, the proprietor of ‘T and J Transportation Services’ at Port Kaituma, North West District, (NWD), Region One (Barima-Waini) and Windsor Castle, Essequibo Coast appeared before Magistrate Delon Bess at the Georgetown Magistrates’ Court where the charges were read to him.
He was charged with the offences of Purchasing gold from a person other than the Board or agent authorised by the Board and Possession of gold by a person not being a producer, under the Guyana Gold Board Act, Chapter 66:01.
He pleaded not guilty to the charge and was granted $120,000 bail and the matter was adjourned until May 5.
Based on the information received, Deonarine was in the habit of buying gold at Port Kaituma Water Front without being the holder of the requisite license.
As a result, ranks of the Guyana Police Force in collaboration with officials of the Natural Resources Ministry conducted a sting operation and he was caught in the act.
His business place was subsequently searched and 20.8 pennyweights of raw gold, two smelting molds, one smelting pot, and $897,000 were found.
The matter was later handed over to SOCU for further investigation.
SOCU, under the Anti-Money Laundering and Countering the Financing of Terrorism Act is the authority for investigating and prosecution of gold smuggling such as in the present cases, in pursuance of money laundering.
Several other matters of similar gold smuggling and money laundering nature are currently under investigation by the said Unit.