Three suspected gold smugglers have been arrested by the GoldBod Security Taskforce in a major operation targeting illegal gold trading in Ghana.
The suspects — Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42) — all Indian nationals, were apprehended at a private residence near Atinga Junction in Kumasi, which had been converted into an illicit gold trading hub. The trio are reportedly involved in gold trading activities in both Kumasi and Accra under the name Unique MM, a company allegedly fronted by one Musah Salifu.
Their arrest followed a tip-off from a patriotic whistleblower, revealing that the suspects were purchasing gold at black market rates with the intention of smuggling it out of the country.
The suspects were arraigned before the Achimota Circuit Court yesterday and remanded into custody for two weeks.
At a press conference in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, revealed that authorities recovered GHS 1.9 million, 4,500 rupees, 4.363 kilograms of gold, two currency counting machines, a CCTV recorder, and an Indian passport from the suspects’ premises.
Preliminary investigations indicate that none of the suspects hold valid licenses to engage in gold trading in Ghana. Despite having operated in the sector for over a decade, they were also unable to provide residence permits, work permits, or evidence of tax compliance.
Further revelations suggest that Musah Salifu, the Ghanaian listed as the sole shareholder of Unique MM, is merely a front for Goutam Katriya, the actual beneficial owner and the company’s alter ego.
Chief Superintendent Alhassan warned both Ghanaians and foreign nationals against breaching the Ghana Gold Board Act and related laws governing the gold industry.
“This arrest marks only the beginning of GoldBod’s ruthless war against illegal gold trading and smuggling. Intelligence confirms that the suspects have been smuggling gold through unapproved border routes into India, a practice that poses serious threats to the Ghanaian economy. More arrests will follow soon,” he declared.
The suspects are to remain in National Intelligence Bureau (NIB) custody until their next court appearance on May 12, 2025.
In a related development, GoldBod has reiterated its directive for all foreigners operating in the gold trading sector to exit the market by April 30, 2025. Additionally, all gold transactions are now mandated to be conducted in Ghana cedis and at the official Bank of Ghana Reference Rate.
Any breach of these directives will constitute a punishable offense under the GoldBod Act, 2025 (Act 1140), as stated in a press release dated April 23, 2025.
Source: Ghana/Starr FM 103.5FM/Benjamin Sackey
