Achimota circuit court has remanded three Indian nationals for their alleged involvement in gold smuggling in the country.
Goutam Katriya 35, Miraj Sarvaych 22 and Manash Damani 42, were ordered to remain in the custody of the National Intelligence Bureau until May 12, 2025, when they would reappear before the court.
A statement said the suspects were arrested by the security taskforce of the Goldbod in Kumasi.
It said the suspects were Indian nationals engaged in gold trading in Kumasi and Accra for Unique MM, a company purportedly owned by one Musah Salifu, a Ghanaian.
They were arrested by the residents at Atinga junction in Ahodwo Kumasi, which are used as their gold trading point.
The statement said their arrest followed a tip-off from a vigilant whistleblower, who reported that the suspects were acquiring gold at “black market” rates with the intent of smuggling.
The Director of Investigations at National Security, Chief Superintendent Osman Alhassan, said in the statement that, the authorities confiscated an amount of GHc 1.9 million, 4,500 rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport from the suspects.
Preliminary investigations by National Security have thus far revealed that none of the three individuals possessed a valid license permitting them to purchase or engage in gold transactions within the country.
Despite having operated in the Ghanaian gold sector for over a decade, the suspects have failed to present any residence or work permits, nor tax payment records related to their business activities.
Moreover, it has come to light that Musah Salifu, a Ghanaian alleged to be the sole shareholder of Unique MM, is merely a front man for Goutam Katriya, the true beneficial owner of the company.
Chief Superintendent Osman Alhassan advise both Ghanaians and foreign nationals against contravening the provisions of the Ghana Gold Board Act and other statutes regulating the gold trading sector in the country.
“This arrest marks merely the commencement of GoldBod’s unyielding campaign against illegal gold trading and smuggling operations.
We are aware that the apprehended suspects smuggle gold through unauthorized border points into India, which poses severe repercussions for the Ghanaian economy.
We are diligently gathering intelligence on numerous illegal gold traders and smugglers, and we will soon undertake requisite actions,” he stated.
In a related matter, GoldBod has reiterated its directive mandating all foreigners in the gold trading sector to withdraw from the market by April 30, 2025.
All individuals engaged in gold transactions are also instructed to conduct their trade in Ghanaian cedis and adhere to the Bank of Ghana’s Reference Rate.
Any violation of these directives shall constitute a punishable offense under the GoldBod Act, 2025 (ACT 1140).
This information was conveyed in a press release issued by GoldBod on April 23, 2025.
