ESSEQUIBO businessman Tarique Deonarine was on Monday released on $120,000 bail for his alleged involvement in gold smuggling at Region One.
Deonarine, who is proprietor of ‘T and J Transportation Services’ in Port Kaituma, Region One, and lived at Windsor Castle, Essequibo Coast, appeared before Magistrate Delon Bess at the Georgetown Magistrates’ Court.

He pleaded not guilty to the two charges laid under the Guyana Gold Board Act.
Deonarine stands accused of purchasing gold from unauthorised sources and possessing gold without being a producer, offences that carry significant legal implications under Chapter 66:01 of the Guyana Gold Board Act.

Magistrate Bess released Deonarine on a total of $120,000 bail and adjourned the matter until May 10, 2024.
The charges stem from an investigation into Deonarine’s activities at the Port Kaituma Water Front, where he purportedly conducted unauthorised transactions.

Acting on intelligence, a joint operation involving the Guyana Police Force and Ministry of Natural Resources personnel was launched, resulting in Deonarine’s apprehension while allegedly engaging in illicit gold transactions.
A subsequent search of Deonarine’s business premises yielded damning evidence, including 20.8 pennyweight of gold, smelting equipment, and $897,000.

The case was subsequently handed over to Special Organised Crime Unit (SOCU) for further investigation under the Anti-Money Laundering and Countering the Financing of Terrorism Act.
Several other matters of similar gold smuggling and money laundering nature are currently under investigations by the said unit against Deonarine.