….After GoldBod Security Taskforce bust
The GoldBod Security Taskforce, has arrested three Indian nationals suspected of gold smuggling. The Achimota Circuit Court, has since remanded them into custody.
The suspects—Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42—are reportedly involved in gold trading operations in Kumasi and Accra on behalf of Unique MM, a company allegedly owned by Musah Salifu.
They were apprehended at a private residence near Atinga Junction in Kumasi, which had been converted into an illicit gold trading centre.
The arrest followed a tip-off from a patriotic whistleblower, who alleged that the trio were purchasing gold at black market rates with the intention of smuggling it out of the country.
The suspects were arraigned before the Achimota Circuit Court on Monday, where they were remanded in custody for two weeks.
Addressing a press conference in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, revealed that items retrieved from the suspects included GH₵1.9 million, 4,500 Indian rupees, 4.363 kilogrammes of gold, two currency counting machines, a CCTV recorder, and an Indian passport.
Preliminary investigations by National Security indicate that none of the suspects holds a valid licence to purchase or trade gold in Ghana. Despite operating in the country’s gold market for over a decade, the trio have been unable to produce any residence permits, work permits, or tax documentation to support the legality of their operations.
Further investigations suggest that Musah Salifu, the Ghanaian listed as Unique MM’s sole shareholder, is merely acting as a front for Goutam Katriya, who is believed to be the company’s beneficial owner and controlling figure.
Chief Superintendent Alhassan warned both Ghanaians and foreign nationals against breaching the Ghana Gold Board Act and other laws regulating the gold trading industry.
“This arrest marks only the beginning of GoldBod’s aggressive crackdown on illegal gold trading and smuggling. Intelligence gathered confirms that the suspects have been smuggling gold through unapproved border points into India. This poses severe economic risks to Ghana. We are actively monitoring several other illegal gold traders and smugglers, and further enforcement actions will follow shortly,” he stated.
The suspects will remain in the National Intelligence Bureau (NIB) custody until 12 May 2025, when they are scheduled to reappear before the court.
In a related development, GoldBod has reiterated its directive for all foreign nationals involved in gold trading to exit the sector by 30 April 2025.
Additionally, all gold transactions are now mandated to be conducted in Ghana cedis and at the prevailing Bank of Ghana Reference Rate.
According to a press release issued by the Board on April 23, 2025, any breach of these directives, will constitute an offence under the GoldBod Act, 2025 (Act 1140).