- US sanctions wealthy Guyana family members, senior government official
- Guyana’s Mohamed Family Sanctioned by US
- Treasury Targets Corruption Network in Guyana
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned members of one of Guyana’s wealthiest families, a Guyana government official, and a company for their roles in public corruption in the Caribbean Community (CARICOM) country. The sanctions were imposed under Executive Order13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption around the world. Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson stated that the action underscores the commitment to holding accountable those who seek to exploit Guyana’s underdeveloped gold sector for personal gain.
The US authorities say gold is one of Guyana’s main exports, but it remains a highly fractured industry with small-scale gold mining operations in Guyana occupying a majority share of the country’s gold production. These small, family-owned businesses have informal relationships with larger purchasers and traders like Mohamed’s Enterprise, and once mined, Guyanese gold is sold and traded throughout international markets, including the United States, Canada, the United Arab Emirates, and the European Union.
Nazar Mohamed founded Mohamed’s Enterprise in Guyana before expanding to the United States as a moneychanger and transitioning into gold trading, growing Mohamed’s Enterprise into one of Guyana’s largest gold exporters. In time, Azruddin Mohamed ultimately took over Mohamed’s Enterprise, which also now does business as “Confidential Cambio.”
OFAC said that Mohamed’s Enterprise evaded Guyana’s tax on gold exports and defrauded the Guyanese government of tax revenues by under declaring their gold exports to Guyanese authorities. Between 2019 and 2023, Mohamed’s Enterprise omitted more than 10,000 kilograms of gold from import and export declarations and avoided paying more than US$50 million in duty taxes to the government of Guyana.
OFAC said that Mohamed’s Enterprise has engaged in extensive bribery schemes involving government officials in Guyana, including providing direct and recurring bribery payments to Guyanese government officials to ensure favorable treatment in criminal or civil matters that would otherwise suggest their involvement in illegal criminal activity. In return, corrupt officials receive cash and gifts for incidents that are overlooked.
OFAC said that while Permanent Secretary to Guyana’s Minister of Home Affairs, Mae Thomas used her position to offer benefits to Mohamed’s Enterprise and Azruddin, among others, in exchange for cash payments and high-value gifts. Thomas misused her position to influence the award of official contract bids and the approval processes for weapons permits and passports on behalf of Mohamed’s Enterprise.
OFAC said that as a result of the sanctions, all property and interests in property of the designated persons in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Additionally, any entities owned, directly or indirectly, individually or in the aggregate, 50% or more by one or more blocked persons are also blocked. Financial institutions and other persons that engage in certain transactions or activities with the sanctioned entities and individuals may expose themselves to sanctions or be subject to an enforcement action.
