UNITED States-sanctioned businessman Azruddin Mohamed has been released on $500,000 bail after pleading not guilty to two charges of customs fraud and tax evasion involving a luxury Lamborghini imported in 2020.

Mohamed appeared before Acting Chief Magistrate Faith McGusty at the Georgetown Magistrates’ Court on Thursday.

The first charge which the magistrate put to Mohamed alleged that he falsely declared the purchase price of a Lamborghini Roadster SVJ at US$75,300 when the value of the vehicle was reportedly US$695,000.

The second charge alleged that Mohamed made the false declaration on or about December 7, 2020, at the Guyana Revenue Authority’s Camp Street office, which resulted in the evasion of taxes to the tune of $383,383,345.

He was granted $250,000 bail on each charge, and the matter has been adjourned to June 26, 2025.

Represented by attorneys Damian Da Silva, Siand Dhurjon, and Darren Wade, Mohamed pleaded not guilty to both charges.

His lawyers questioned the timing of the charges, noting that the vehicle has been in use since 2020, but GRA only acted in March 2025.

Da Silva described the move as GRA “flexing bureaucratic muscles” and stressed that Mohamed is not a flight risk, citing his status as a public figure and running as a candidate in the upcoming general and regional elections.

As such, he asked that his client be released on his own recognisance.

However, GRA’s attorney, Sanjeev Datadin, countered the attorney’s submission stating that the authority followed due process.

He told the court that official correspondence was dispatched to Mohamed, indicating that there had been a reassessment which the revenue authority is entitled by law to do.

It was explained that Mohamed was given 14 days to respond and provide information, failing which, the reassessment would take place.

Mohamed, instead, sought more information without cooperating fully with the process.

Datadin added, “The revenue authority’s letter was very clear that you’re given 14 days to provide the information; if you do not provide, this will be the new assessed value. So, you’re given the opportunity to have your hearing.”

He maintained that the GRA is statutorily empowered to investigate and prosecute fraudulent declarations.

“The inference that this is somehow or the linking of charges is somehow special is not so. The Guyana Revenue Authority is entitled, by statute, to collect taxes. And if you have declared falsely and the revenue authority has reason to believe that it is fraudulent, then the revenue authority is empowered, by statute, to act; it has done so,” Datadin told the court.

Further, he noted that it is a criminal process and, as such, asked that bail be fixed in the matter.

After listening to both sides, the magistrate set bail in the sum of $250,000 for each charge and adjourned the matter to June 26.

Previously, complaints were officially lodged by GRA Commissioner-General Godfrey Statia after the United States Department of Justice (DOJ) reportedly provided damning evidence, including the original invoice from the American dealership that sold the vehicle.

Authorities say the Lamborghini, which features a 6,500cc engine and bears Vehicle Identification Number (VIN) ZHWUN6ZDILLA09394, was imported using documentation that did not reflect its true value.

That case against Mohamed also includes wire transfer records obtained from the Guyana Bank for Trade and Industry (GBTI), allegedly showing payments made from his account to the U.S. seller that align with the higher value.

According to the GRA, the significantly undervalued declaration resulted in the non-payment of applicable duties and taxes, a matter now also under scrutiny in the High Court.

If proven, Mohamed could be liable for substantial back payments and other penalties.

Meanwhile, the GRA has initiated legal proceedings in the Demerara High Court against Mohamed and several of his family members, alleging that multiple luxury vehicles were grossly undervalued at the time of importation.

According to the tax agency, this caused the family to pay significantly less taxes than legally mandated.

As a result, the GRA is seeking a court order requiring the Mohamed family to pay an additional $1.2 billion in taxes on the under-declared luxury vehicles, which include a Toyota Land Cruiser PAB 3000, a Toyota Land Cruiser PAB 4000, a Lamborghini PZZ 4000, and a Ferrari 488 PAD 5000.

The Full Court of Demerara had refused an application by the GRA to overturn an existing injunction. The Bench comprised Chief Justice (ag) Roxane George- Wiltshire, SC and High Court Judge Nareshwar Harnanan.

The injunction, granted in April 2025 by Justice Gino Persaud, bars the GRA from seizing the luxury vehicles while the tax evasion case against the Mohameds remains pending.

The GRA’s High Court legal team is headed by Senior Counsel Anand Ramlogan, former Senator and Attorney General of Trinidad and Tobago, and includes Senior Counsel Robin Stoby, along with attorneys Maritha Halley, Judy Stuart-Adonis, Jason Moore, Fiona Hamilton, Ornise Gordon, and Nicklin Belgrave.

Following the Full Court’s ruling, the vehicles will remain in the Mohameds’ possession pending the outcome of the substantive case before Justice Persaud, who is expected to deliver his decision on September 12, 2025.