THE Special Organised Crime Unit (SOCU) has been granted a court order to detain significant quantities of gold and cash linked to Sebastiao De Olivera Moura and GAGO Gold Inc., following a ruling by the Chief Justice (ag) Navindra Singh on Monday, March 23, 2026.
The Detention Order, issued under Section 37A of the Anti-Money Laundering and Countering the Financing of Terrorism Act (AML/CFT Act), authorises SOCU to hold 4,018.15 pennyweights of gold valued at over G$80.9 million and cash totalling G$81.1 million.
The assets are considered tainted property, allegedly derived from money laundering activities, and are required as evidence in ongoing criminal proceedings.
The case has a complex history. Following a joint operation on February 7, 2024, involving SOCU, the Ministry of Natural Resources, the Guyana Gold Board, and the Guyana Geology and Mines Commission, the High Court initially granted several detention orders to preserve the assets until May 6, 2025. However, the then Chief Justice Roxane George ordered the release of the properties on April 3, 2025.
Shortly thereafter, SOCU filed five criminal charges against Moura for alleged money laundering under the AML/CFT Act. Despite an interim return of the assets to the respondents in November 2025, SOCU re-seized the properties, arguing they were at risk of dissipation and necessary for evidentiary purposes.
During the latest proceedings, the respondents were represented by attorneys Naresh Poonai and Latchmie Rahamat. Despite a vigorous defence, Chief Justice Singh ruled in favour of SOCU, noting that previous releases of the property did not determine whether the assets were tainted. “The Applicant has set out cogent evidence demonstrating that it has reasonable grounds to seize the Property and is justified in seeking detention Orders for same,” the Chief Justice stated.
The Court also awarded costs to SOCU amounting to G$500,000, payable by April 23, 2026. SOCU’s legal team was led by Attorney-at-Law David Brathwaite.
This ruling marks a significant step in the ongoing investigation into alleged money laundering activities connected to gold trading operations in Guyana and underscores the judiciary’s commitment to preserving assets potentially linked to financial crimes.
