AN inter-agency meeting was held yesterday as investigators intensify their probe into the organised billion-dollar gold-smuggling racket, said Minister of Governance Raphael Trotman, who has responsibility for the Natural Resources sector. Stakeholders at that meeting included representatives from the Special Organised Crime Unit (SOCU), Guyana Revenue Authority (GRA), Guyana Gold Board, Guyana Geology and Mines Commission (GGMC) and members of the Asset Recovery Unit of the Ministry of the Presidency.
“We have looked at the arms and tentacles of this problem, particularly the export end. We discussed collaboration with foreign countries and we have agreed to establish a task force to bridge collaboration at all ends. We are meeting in two weeks to refine our action plan,” Trotman said.
STOLEN IN CURAÇAO
Noting that Guyana’s gold has gone as far as the Middle East, China and Europe, Trotman said government is also tracking the gold that was stolen in Curacao.
“The President is signalling that we have a review of the tax laws and royalties paid. For example, one complaint has been that royalties paid in Suriname are lower and many may prefer to take the gold to Suriname where they get higher prices. But I know Suriname has made some adjustment recently, so it’s not as attractive as before,” the Governance Minister said.
Guyana had asked Curacao for help in tracing the origin of US$11.5 million worth of raw gold that was stolen by gunmen from a Guyanese fishing vessel on the Dutch Caribbean Island in 2012. According to reports, 470 pounds of raw gold divided into 70 bars were hauled off the MV Summer Bliss by six men. They were described as hooded, masked and wearing jackets with the English word “police” instead of the Papiamento language equivalent of “polis.”
Trotman, however, noted that the new government is digging deep to uncover all aspects of the report on the gold smuggling that has been missing for the past two years.
PLAYERS ON THE RADAR
Several local and international players in the gold industry are on the radar, as investigators intensify their probe into the organised billion dollar gold smuggling racket.
Gold produced by miners here has to be sold to the Guyana Gold Board which then makes arrangements for its refining abroad. Any other type of sale is prohibited. However, there have been numerous reports of widespread smuggling of gold to other territories where tax rates are lower. This is particularly true of the former Dutch possession, Suriname.
However, local sources questioned how 7,616 ounces of gold could be accumulated and spirited out of this country just like that. It was surmised that the gold could have come from multiple sources and destinations. (Rabindra Rooplall)