The GoldBod security taskforce has arrested three suspected gold smugglers, Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42, all Indian nationals, for allegedly engaging in illicit gold trading activities in Ghana.
The suspects were apprehended at their private residence in Kumasi, which had been converted into a gold trading hub.
According to Chief Superintendent Osman Alhassan, Director of Investigations at National Security, the arrest was based on a tip-off from a patriotic whistleblower, who revealed that the suspects were purchasing gold at “black market” rates with the intention of smuggling it out of the country. The suspects were subsequently arraigned before the Achimota Circuit Court and remanded into custody for a period of two weeks.
During a press conference in Accra, Chief Superintendent Alhassan disclosed that a substantial amount of evidence was seized from the suspects, including 1.9 million cedis, 4,500 rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport.
Preliminary investigations revealed that none of the suspects possess a valid license to purchase or deal in gold in Ghana.
“We are deeply concerned that these individuals have been operating in Ghana for over a decade without any residence permit, work permit, or tax payment records,” Chief Superintendent Alhassan stated.
“It appears that Musah Salifu, a Ghanaian alleged to be the sole shareholder of Unique MM, is merely a front for Goutam Katriya, the real beneficial owner and alter ego of the company.”
The Director of Investigations cautioned both Ghanaians and foreign nationals against violating the provisions of the Ghana Gold Board Act and other laws governing the gold trading sector.
“This arrest is only the beginning of GoldBod’s ruthless war against illegal gold trading and gold smuggling,” he warned. “We know that the arrested suspects smuggle gold through unapproved border points into India, which has serious negative consequences for the Ghanaian economy. We are still gathering intelligence on several illegal gold traders and smugglers, and very soon, we shall take necessary action.”
The suspects are expected to reappear before the court on May 12, 2025. In a related development, the GoldBod has reiterated its directive for all foreigners in the gold trading sector to exit the market by April 30, 2025. Additionally, all persons dealing in gold have been directed to trade in Ghana cedis and at the Bank of Ghana Reference Rate, with any breach constituting a punishable offense under the GoldBod Act, 2025 (ACT 1140).
