SOCU seizes $10M from businessman in land sale kickback scheme

The High Court has ordered the seizure of $10 million from businessman, Naitram Outar for his alleged involvement in a kickback scheme linked to a land sale.

In a ruling handed down on Wednesday, Justice Peter Hugh directed the Special Organized Crime Unit (SOCU) to confiscate the funds as they were deemed proceeds of crime and tainted property.

The court further ordered that the seized money be paid into the Consolidated Fund under the Anti-Money Laundering and Countering the Financing of Terrorism Act.

According to the Police, the case stems from a search conducted by SOCU officers on July 15, 2024, at Outar’s residence in Diamond, East Bank Demerara.

Although the initial search was for narcotics and other illegal items, officers found and seized $10 million after Outar failed to provide a satisfactory explanation for the large sum.

Subsequent investigations revealed that Outar conspired with another businessman to facilitate the sale of two acres of land in Ogle for $50 million.

Outar was responsible for arranging the deal and was to receive $40 million, with the remaining $10 million paid as a kickback to individuals associated with the Central Housing and Planning Authority (CHPA), Police said.

SOCU continues to investigate other individuals allegedly involved in the corruption scheme.

Deputy Commissioner Fazil Karimbaksh, head of SOCU, has issued a stern warning to those attempting to corrupt the system, emphasizing that law enforcement will relentlessly pursue offenders until they face prosecution.

SOCU was represented by Prosecutor David Brathwaite.