Billionaire businessman and gold dealer, Tamesh Jagmohan, has denied claims of being part of a gold smuggling ring, as claimed by his former gold buying agent and fellow gold dealer, Junior Baksh.

In a late night statement on Monday, Mr. Jagmohan said he is aware of the allegations made against him by Junior Baksh. He described the allegations as “false and damaging”.

Jagmohan explained that Baksh worked as his gold buying agent several years ago, but their association ended over concerns about alleged “unethical business practices” by Baksh.

The well-known businessman said he categorically denies all of the allegations made in the interview, adding that he has always conducted his business in strict compliance with the laws of Guyana.

He said the timing of the claims, which he described as “unfounded”, is suspicious and raises serious questions about the motives behind their release.

“All legal options are being considered, including proceedings against Mr. Baksh and any individuals who may have influenced or facilitated these statements”, Jagmohan said.

In an interview conducted by senior Journalist Travis Chase, Junior Baksh made several serious claims against Mr. Jagmohan and other business persons, who he said are directly connected to the top of the Government. The interview was reportedly conducted by Chase back in March of this year, but was not released by him. The interview appeared on the social media pages of political and rights activist, Melissa “Melly Mel” Atwell.

Jagmohan’s statement to the media was released on Monday night after Atwell shared snippets of the interview. This morning, she released a more than 40 minute long piece of the interview with Junior Baksh that was conducted by Chase.

This is not the first time that Jagmohan has distanced himself from allegations of gold smuggling and money laundering. In August 2024, he denied reports that surfaced online that alleged that he was under investigation by the US authorities over reports of gold smuggling and money laundering.

In the interview, Baksh spoke about allegedly working along with others in a number of gold buying and selling deals, that allegedly involved the importation of Venezuelan gold and its mixing with local gold before declaration and sale to the local Gold Board by senior gold dealers.

He also made claims of the involvement of senior Government officials in gold mining schemes and the alleged payment of their “cut” through middle men and relatives.

There has been growing concern by local authorities and US authorities over the alleged movement of Brazilian and Venezuelan gold into Guyana and various methods of money laundering involving that gold as well as illegal gold exportation.

Related posts:

Azruddin Mohamed denies claims of sexual assault of teen girl; Family sees accusations as political hit job Tamesh Jagmohan denies claims of involvement in gold smuggling and money laundering Businessman charged for purchasing raw gold from person other than Guyana Gold Board Brazil probing major money laundering and gold smuggling operation involving Guyanese businessman