Essequibo businessman, Tarique Deonarine, was on Monday charged by the Special Organised Crime Unit for allegedly purchasing gold from a person other than the Guyana Gold Board or an authorized person.

It is alleged that the businessman purchased the gold from someone in the Port Kaituma community in Region One.

In a statement, SOCU said after it received information that Deonarine had developed a habit of purchasing raw gold from persons involved in mining in the community, a search was conducted at the man’s business place as part of a sting operation.

SOCU said its agents found 20.8 pennyweight of gold, two (2) smelting molds, one (1) smelting pot, and $897,000.

In Court, the businessman pleaded not guilty to the charge, and he was granted bail in the sum of $60,000.

Under the Anti-Money Laundering Act, the Special Organised Crime Unit is the authority for investigating and prosecuting Gold smuggling. CANU said several other gold smuggling and money laundering cases are currently under probe.

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