Intelligence operations ongoing to curb gold smuggling – Jagdeo

Shortly after local authorities successfully dismantled a gold smuggling ring between Guyanese and Brazillians, Vice President Dr Bharrat Jagdeo has disclosed that “several intelligence operations” are ongoing to curb this practice.

During his weekly press conference on Thursday, Jagdeo said reports suggest that such practices do not only involve residents of Region Nine which shares a border with Brazil, but also people from the city of Georgetown.

“From what we have been hearing, it’s a ring of people from Georgetown too. I can tell you that there are operations against people who are buying gold at a price that is significantly above the world market price because they are evading their Government’s royalty and smuggling it into Brazil,” he noted.

An operation led by the Special Organised Crime Unit (SOCU) in Lethem, Region 9 earlier this month resulted in the arrests of two Brazilian nationals and some $26 million along with a large quantity of gold seized. The female, a 39-year-old clothes vendor of Boa Vista, was placed on $75,000 bail while the male who has not yet been charged was placed on $1M station bail.

Jagdeo warned against the practice of gold smuggling, noting that perpetrators will also be charged for money laundering.

“When you get caught – there are several Brazillian nationals but there are a few locals – when you get caught with money laundering, don’t go and claim discrimination,” he said.

The Vice President said he is hopeful that the judiciary also sees the seriousness of the matter and institutes penalties accordingly.