In its announcement of instituting sanctions against Nazar Mohamed, Azruddin Mohamed and their companies along with Permanent Secretary Mae Thomas, the US Treasury Department stated that Azruddin Mohamed and Mohamed’s Enterprise evaded Guyana’s tax on gold exports and defrauded the Guyanese government of tax revenues by under­declaring their gold exports to Guyanese authorities.

The US Treasury Department alleges that between 2019 and 2023, Mohamed’s Enterprise omitted more than 10 thousand kilograms of gold from import and export declarations and avoided paying more than US$50 million in duty taxes to the Government of Guyana.

Additionally, the US Treasury Department claims that Mohamed’s Enterprise also bribed customs officials to falsify import and export documents, as well as to facilitate illicit gold shipments.

It was also reported by the US that Mohamed’s Enterprise also paid bribes to Guyanese government officials to ensure the undisrupted flow of inbound and outbound personnel that move currency and other items on behalf of Azruddin Mohamed and Mohamed’s Enterprise.

When reports surfaced in 2023 about the alleged involvement of the Mohameds in gold smuggling, the family denied the accusations. Last year, the family said they comply with all applicable laws when it comes to the operation of their businesses.

The move by the US authorities could spell major trouble for the Mohameds and their massive business enterprise as companies doing business with them with links to the US could also face similar sanctions.

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