Over $193M in cash & gold seized after SOCU disrupts gold smuggling operation; Brazilian charged

On Monday, April 7, 2025, the Special Organised Crime Unit (SOCU) laid five charges of Money Laundering against Director of Gago Gold Inc. Brazilian national Sebastiao De Oliveria Moura, a 43-year-old businessman.

The man was previously charged with failing to keep and produce a book to an officer of the board or to another person authorised by the Board contrary to Section 9(4) of the Guyana Gold Board Act, Chapter 66:01.

Moura appeared at the Georgetown Magistrates Court, before Acting Chief Magistrate Faith Mc Gusty where he was not required to plead to five indictable charges of Money Laundering in contravention of Section 3 (1) (c) of the Anti-Money Laundering and Countering the Financing of Terrorism Act Chapter 10:11. The Court granted Moura bail in the sum of $1,750,000 and the cases were adjourned to April 22, 2025 for disclosure.

According to Deputy Commissioner Fazil Karimbaksh Head of SOCU, investigations commence on February 7 2024, after a joint intelligence led operation was conducted by officers of SOCU, the Ministry of Natural Resources, the Guyana Gold Board (GGB), and the Guyana Geology and Mines Commission (GGMC) and a search was carried out on Moura’s business place situate at 19 Albert Street, Bourda, Georgetown for local and foreign currencies, cheques, electronic devices, precious stones, gold and financial records.

During the search currency in the sums of eighty one million, one hundred one thousand, two hundred dollars (GY $81,101,200.00), six thousand and fifty-seven United States Dollars (US $6,057.00), and two hundred forty Surinamese Dollars (SRD $240.00), and four thousand eighteen and point one five (4018.15) pennyweights of gold valued one hundred and twelve million, five hundred eighty-eight thousand, five hundred sixty-three dollars (GY $ 112, 588,563.00) and diamonds weighing three point five (3.5) grams were found on Moura’s business premises.

After intense investigation which lasted for over one year, SOCU instituted charges on the basis that the monies, gold and diamonds are tainted properties in relation to the offence of money laundering and gold smuggling and are the proceeds of crime in contravention of section 3(1)(c) of the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2009, Cap. 10:11. A summary of all the money laundering charges revealed that Moura acquired or possessed the monies, gold, and diamonds knowing or having reasonable grounds to believe that the said monies, gold, and diamonds were derived, in whole or in part, directly or indirectly from proceeds of crime.