Kumasi, Ghana – April 29, 2025
Three Indian nationals suspected of engaging in illegal gold trading and smuggling operations have been arrested by the GoldBod Security Taskforce in Kumasi.
The suspects — Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42 — were apprehended at a private residence near Atinga Junction, which had reportedly been converted into an unauthorized gold trading hub.
The arrests, which followed a tip-off from a whistleblower, form part of a broader crackdown by the GoldBod Taskforce on illicit gold transactions.
According to officials, the suspects were buying gold at “black market” rates, allegedly with the intention of smuggling it out of the country through unapproved routes, primarily to India.
The suspects were arraigned before the Achimota Circuit Court on Monday and have been remanded into National Investigations Bureau (NIB) custody for two weeks, pending further investigations. They are expected to reappear in court on May 12, 2025.
In a press briefing held in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, disclosed that the taskforce recovered GH₵1.9 million, 4,500 Indian rupees, 4.363 kilograms of gold, two money counting machines, a CCTV recorder, and an Indian passport from the suspects’ residence.
Investigations have revealed that the accused, who have been operating in Ghana for over a decade, do not possess valid licenses to trade in gold and have failed to produce any work permits, residence permits, or tax compliance documents.
The trio reportedly trade on behalf of Unique MM, a company allegedly owned by one Musah Salifu. However, authorities believe that Salifu is merely a front, with Goutam Katriya identified as the true beneficial owner and controlling figure behind the company.
Chief Superintendent Alhassan issued a stern warning to both Ghanaian and foreign actors in the gold sector, stating:
“This arrest is only the beginning of GoldBod’s ruthless war against illegal gold trading and smuggling. We know that the arrested suspects smuggle gold through unapproved border points into India. This has serious negative consequences for the Ghanaian economy.”
He added that intelligence gathering efforts are ongoing and more arrests are expected.
In a related development, the Ghana Gold Board (GoldBod) has reaffirmed its directive that all foreign nationals operating in the gold trade must exit the sector by April 30, 2025.
Furthermore, all gold transactions are to be conducted exclusively in Ghana cedis and at the Bank of Ghana’s Reference Rate.
Any breach of these regulations will be considered an offense under the GoldBod Act, 2025 (Act 1140), a recent press release dated April 23 confirmed.
Reported By: Robicon Mornahson