Three Suspected Gold Smugglers Arrested by GoldBod Security Taskforce, Remanded in Custody by Circuit Court

Three Indian nationals suspected of smuggling gold have been arrested by the GoldBod security taskforce in Kumasi. The suspects, identified as Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42), were allegedly involved in trading gold for Unique MM, a company said to be owned by Musah Salifu.

The arrests occurred at the suspects’ private residence near Atinga Junction in Kumasi, which was being used as a gold trading hub. The operation followed a tip-off from a whistleblower who reported that the suspects were buying gold at black market rates with the intention of smuggling it.

The three were arraigned before the Achimota Circuit Court on April 28, 2025, and have been remanded into custody for two weeks.

At a press conference in Accra, Chief Superintendent Osman Alhassan, the Director of Investigations at National Security, revealed that during the arrest, authorities confiscated significant items, including 1.9 million cedis, 4,500 rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport.

Preliminary investigations have shown that none of the suspects holds a valid license to purchase or trade gold in Ghana. The suspects, who have been operating in the country’s gold sector for over a decade, have failed to provide any residence or work permits, as well as records of tax payments for their business activities. Additionally, it has been discovered that Musah Salifu, the Ghanaian alleged to be the owner of Unique MM, is merely a front for Goutam Katriya, the true beneficial owner of the company.

Chief Superintendent Osman Alhassan issued a stern warning to both Ghanaians and foreign nationals involved in illegal gold trading. He emphasized that this arrest marks the beginning of the GoldBod’s intensive campaign against illegal gold trading and smuggling. “We are aware that these suspects were involved in smuggling gold across unapproved border points into India, which has serious negative implications for Ghana’s economy,” he stated. “We are continuing to gather intelligence on other illegal gold traders and smugglers and will take further action soon.”

The suspects are set to remain in custody at the National Intelligence Bureau (NIB) until their next court appearance on May 12, 2025.

In a related development, the GoldBod has reiterated its directive requiring all foreigners engaged in gold trading to leave the market by April 30, 2025. The GoldBod also mandated that all gold transactions must be conducted in Ghana cedis and at the Bank of Ghana’s reference rate. Any violation of these directives will be considered an offense under the GoldBod Act, 2025 (ACT 1140), as outlined in a press release issued by the GoldBod on April 23, 2025.