A UNITED STATES federal grand jury in the Southern District of Florida has returned a true bill indictment against prominent sanctioned businessmen, Nazar Mohamed and his son, Azruddin Mohamed, charging them with multiple counts of charges including wire fraud, gold smuggling and money laundering.
The case which entered into the court’s record on October 2, 2025, according to documents seen by the Guyana Chronicle, sketches a trail of gold and deceit that began in 2017, during the tenure of the APNU+AFC Coalition government and allegedly ran for seven years flowing from Georgetown to Miami and from Dubai to California, through a system designed to evade taxes and enrich the men behind one of Guyana’s largest gold exporters.
The indictment cites several provisions of U.S. law, including 18 U.S.C. §§ 1349, 1343, 1341, 2, 1956(h), 981(a)(1)(C), and 982(a)(1), which cover wire fraud, mail fraud, money laundering conspiracy, and forfeiture of assets linked to unlawful activity.
According to the court filing, Nazar Mohamed, a Guyanese citizen, is identified as the 90% owner of Mohamed’s Enterprise, while his son, Azruddin, held a 10% ownership stake. Mohamed’s Enterprise operated as a gold wholesaler and exporter based in Guyana, selling gold primarily to buyers in Miami and Dubai.
Azruddin is the leader of the We Invest in Nationhood party and is also the leader of the Opposition.
According to U.S. prosecutors, the family business, Mohamed’s Enterprise, paid the Guyana Revenue Authority (2% tax) and Guyana Gold Board (5% royalty) the required taxes and royalties on select gold shipments in order to secure official seals.
But rather than repeat the process legally, the indictment alleges that the Mohameds reused those seals and customs declarations on subsequent shipments, tricking the system into believing taxes had been settled when, in fact, they had not.
To make matters worse, the father and son duo are accused of bribing Guyanese customs officials to look the other way as shipments left Georgetown bound for Miami and Dubai.
The result, prosecutors say, was the export of more than 10,000 kilograms of gold without the proper taxes being paid, depriving Guyana of roughly US$50 million between 2017 and 2024.
The conspiracy, the indictment claims, was disguised through a web of freight forwarders, shipping firms and electronic wires that moved payments from bank accounts in Guyana to the Southern District of Florida.

It is alleged that the scheme allegedly went beyond creative bookkeeping. Company 2 in Miami was used to ship empty wooden boxes with intact Guyanese seals from Dubai back to Miami, maintaining the façade of legitimate trade.
Meanwhile, it is alleged that Mohammed’s company 3 in Miami then moved those boxes to Guyana. Prosecutors allege this “shell shipment” system allowed the enterprise to continue exporting gold while avoiding scrutiny.
Emails from Nazar Mohamed allegedly show him arranging multi-ton shipments through Miami, with each consignment packaged to appear legitimate.
But prosecutors say some of those boxes were nothing more than empty containers, sent from Dubai to Miami bearing reused seals from Guyana, only to be shipped back again to bolster the illusion of compliance.
THE LAMBORGHINI TWIST
Even as the gold flowed, prosecutors allege, the money was diverted into personal benefit.
The most striking example comes in Count 11, where Azruddin Mohamed is accused of directing the purchase of a Lamborghini Aventador SV in California at a cost of approximately US$680,000.
To avoid the more than US$1 million in duties owed to the Guyana Revenue Authority, the indictment says he instructed an associate to draft an invoice showing the car’s value at just US$75,300. That paperwork was then presented to GRA, and the car was shipped from Miami to Guyana under false pretences.
The US government’s case now seeks not only conviction but also forfeiture. At stake are shipments and assets linked to the alleged fraud, including a consignment of gold bars worth US$5.3 million seized at Miami International Airport on June 11, 2024.
According to the US, Mohameds enriched themselves by turning Guyana’s gold trade into a shell game, one where official seals were recycled, customs officers were compromised and millions meant for public coffers were diverted into private hands, some of it even parked in the sleek lines of an Italian supercar.
Meanwhile, criminal charges have since been instituted against Azruddin under the Customs Act, Chapter 82:01, with hearings ongoing before the Georgetown Magistrates’ Courts.
Mohamed is charged under the Customs Act with knowingly making and subscribing to a false declaration to the GRA on or about December 7, 2020, by declaring the purchase price of a 2020 Lamborghini Roadster SVJ as US$75,300, while the authority contends the actual value of the vehicle was US$695,000.

According to the particulars of another charge, on or about December 7, 2020, at GRA’s Camp Street office, he fraudulently declared the value of the vehicle to be US$75,300 instead of $695, 000, which resulted in taxes in the sum of $383,383,345 being evaded.
In addition to the Lamborghini, the GRA has alleged that Mohamed and several family members significantly undervalued other luxury vehicles during importation, prompting the Authority to seek payment of approximately $1.2 billion in taxes.
In April 2025, the Full Court of Demerara denied the GRA’s application to overturn the injunction granted by Justice Gino Persaud, leaving the vehicles in the Mohamed family’s possession.
GRA has appealed the Full Court’s ruling.
The decision on the Judicial Review proceedings and the GRA’s Notice of Application is expected from Justice Persaud on October 31.