GEORGETOWN, Guyana (CMC) – The Federal Bureau of Investigation (FBI) and the United States Home Land Security will be working with security officials as they investigate the matters surrounding the weekly exportation of 15,000 ounces of illegal gold.
Natural Resources Minister Raphael Trotman made the disclosure at a press conference on Wednesday, stating that local law enforcement officials and related agencies were working constantly to tighten all the loopholes through which the precious metal is being smuggled.
He said 50 to 60 per cent of local production is lost to smuggling.
“Indicators are that the gold is going to Brazil. It is going over the borders to Suriname, not to stay in Suriname but to go to Europe. It is being landed at Miami International Airport. It is being landed at John F Kennedy and it is going to the Middle East,” he told reporters.
He said a percentage of the smuggled gold originates from Colombia, Brazil and Venezuela, “passing through what could be weak or porous systems”.
The lead agency for investigating the smuggling is the Guyana Police Force which is being supported by the recently formed Anti-Gold Smuggling Task Force headed by Minister Trotman, and the Special Organised Crime Unit (SOCU).
Trotman said he believes the illegal trade has to do with a better price being offered overseas, but also with “hiding income from government to avoid taxes altogether”.
While admitting that several business operators are currently under investigation, he declined to name them.
“If there are any persons of interest neither myself or any other minister will disclose who those persons are.”
He said the ministry will be tightening its protocols with regards to gold exports which are being overseen by officials of the Guyana Gold Board and the Guyana Revenue Authority. Gold exports topped 451,000 ounces in declarations in 2015.
The Gold Board announced that it has recorded 451,490 ounces of declared gold, surpassing 2015’s target of 380,000 ounces and raking in some export earnings of approximately US$500 million. This made gold mineral, the largest earner of foreign currency for Guyana.
Guyana recently asked the United States for assistance to help convict a man for allegedly smuggling large quantities of gold to New York.
Businessman Christopher Baldeo is accused of smuggling almost US$69,142 worth of gold to the United States between February 6 and 7, 2015.
Guyanese investigators are alleging that Baldeo, who is not a licensed gold exporter, did not declare the gold to customs officers before departing Guyana through the Cheddi Jagan International Airport February 6, 2015.