Gold Board to investigate alleged transactions with licensed gold dealer accused of fraud
Incoming Directors of the Guyana Gold Board has been tasked with investigating allegations of transactions with Licensed gold dealer, Saddiqi Rafeek Mohamed Rasul who has been charged with allegedly defrauding the Guyana Bank for Trade and Industry (GBTI).
According to the Ministry of Natural Resources, regarding the alleged linkages with personnel at the Guyana Gold Board, the Ministry will maintain its vigilance over the operations of the Board.
As such, the Directors will be tasked with probing whether anyone from the agency acted improperly or outside of their mandate in conducting business with said licenced gold dealer.
“We have also requested the Guyana Police Force to provide additional information and clarification with a view to aiding the investigation,” the Ministry said on Tuesday night (April 04, 2017).
The Ministry noted that it is committed to transparency and accountability within the natural resources sector and will be fully engaged with the authorities in addressing any matter of impropriety in the sector, and in particular, to ensure that the Guyana Gold Board is a credible and reliable institution of State.
Mohamed Rasul was charged with defrauding the Guyana Bank for Trade and Industry (GBTI) of GYD$956 million in six separate tranches between March 21 and 22, 2017, according to reports. Police said Rasul pretended that he had cash in his account at Citizens Bank to honour the Citizens Bank cheques he had presented to the GBTI Bartica branch. It is also alleged that he was selling gold to the Gold Board frequently.