GoldBod Task Force Cracks Down on Illegal Gold Trade: Three Suspects Arrested in Kumasi

The GoldBod security task force has apprehended three individuals suspected of smuggling in gold, marking a significant step in Ghana’s fight against illegal gold trading. The suspects—Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42)—are Indian nationals operating as gold traders in Kumasi and Accra under a company named Unique MM, allegedly owned by Musah Salifu.

The arrests took place at their private residence near Atinga Junction in Kumasi, which authorities discovered had been converted into an unauthorized gold trading hub. The operation followed a tip-off from a whistleblower indicating that the suspects were acquiring gold at black-market rates with the intent to smuggle it out of the country.

Court Proceedings and Seized Items

The suspects were brought before the Achimota Circuit Court on Monday, April 28, 2025, and remanded into custody for two weeks. During a press briefing in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, revealed that the suspects were found in possession of:

• GH₵1.9 million in cash

• 4,500 Indian rupees

• 4.363 kilograms of gold

• Two counting machines

• A CCTV recorder

• An Indian passport

Investigations further uncovered that none of the suspects held a valid license to trade or purchase gold in Ghana. Despite operating in the country for over a decade, they could not produce any valid residence permits, work permits, or tax records. Additionally, it was revealed that Musah Salifu, the purported owner of Unique MM, was merely a front for Goutam Katriya, the actual beneficial owner of the company.

GoldBod’s Stern Warning Against Illegal Trading

Chief Superintendent Alhassan issued a strong caution to both Ghanaian and foreign nationals, emphasizing that violations of the Ghana Gold Board Act and related regulations would not be tolerated.

“This arrest marks the beginning of GoldBod’s intensified crackdown on illegal gold trading and smuggling,” he stated. “We have intelligence indicating that these suspects have been smuggling gold through unapproved border routes into India, which severely harms Ghana’s economy. Our investigations are ongoing, and more arrests will follow.”

The suspects are set to remain in the custody of the National Investigations Bureau (NIB) until their next court appearance on May 12, 2025.

Strict Compliance Directive for Gold Traders

In a related development, the GoldBod has reaffirmed its directive requiring all foreign nationals involved in gold trading to exit the market by April 30, 2025. Additionally, all gold transactions must now be conducted in Ghana cedis and adhere to the Bank of Ghana’s reference rate.

A breach of these regulations will be punishable under the GoldBod Act, 2025 (ACT 1140), as outlined in an official press release dated April 23, 2025. The move underscores the government’s commitment to regulating the gold trade and safeguarding the nation’s economic interests.

The arrest of the three suspects signals a decisive move by Ghanaian authorities to clamp down on illicit gold trading networks. With stricter enforcement measures in place, the GoldBod aims to restore transparency and legality in the sector, ensuring that Ghana’s gold resources benefit its economy and citizens. Further operations are expected as the task force continues its nationwide crackdown.

Source: GhanaFeed.Com