In a significant crackdown on illegal gold trading activities, the GoldBod security taskforce successfully apprehended three suspected gold smugglers, Goutam Katriya, Miraj Sarvaych, and Manash Damani, all Indian nationals.
The trio, operating under the guise of trading gold for Unique MM, were taken into custody at their residence in Kumasi’s Atinga Junction, which was purportedly being used as an illegal gold trading center.
Following a tip-off from an anonymous source, these suspects were identified for engaging in the illicit purchase of gold at below-market rates with the intent of smuggling it out of the country. Chief Superintendent Osman Alhassan of National Security confirmed the seizure of 1.9 million cedis, 4,500 rupees, 4.363 kilograms of gold, along with incriminating items like counting machines, CCTV equipment, and an Indian passport in the possession of the suspects.
Despite having conducted gold trading operations in Ghana for over a decade, investigations revealed that none of the suspects held the necessary licenses to conduct such business activities legally.
Furthermore, it was exposed that Musah Salifu, purportedly the owner of Unique MM, was merely a front for Goutam Katriya, the true owner of the company.
Chief Superintendent Osman Alhassan issued a stern warning to both Ghanaian and foreign nationals against violating the laws regulating the gold trading sector in the country, emphasizing the detrimental impact of smuggling activities on the Ghanaian economy.
These arrests mark the initiation of an intense campaign by GoldBod against illegal gold trading and smuggling, with promises of further decisive actions against such criminal activities.
The suspects were remanded into NIB custody until their next court appearance scheduled for May 12, 2025. In a related development, GoldBod has mandated all foreign individuals involved in gold trading operations to exit the market by April 30, 2025. Failure to adhere to this directive, accompanied by the instruction to trade in Ghanaian cedis at the Bank of Ghana Reference Rate, will be deemed a punishable offense under the GoldBod Act, 2025 (ACT 1140), as outlined in a recent Press Release by the authority.
As the GoldBod taskforce intensifies its efforts to curb illegal gold trading within the country, the security taskforce remains vigilant in protecting Ghana’s resources and economy from the detrimental effects of smuggling activities.
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