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0 Ferdinand | PoliticsGhana | April 29 | Three Suspected Gold Smugglers Arrested by GoldBod Taskforce, Remanded by Circuit Court
Three Indian nationals have been arrested in Kumasi for illegal gold trading and smuggling. Learn how GoldBod and National Security are cracking down on unlicensed gold dealers in Ghana.
Three suspected gold smugglers have been arrested by the security taskforce of the Ghana Gold Board (GoldBod) and remanded into custody by the Achimota Circuit Court. The suspects, identified as Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42), are all Indian nationals operating within Ghana’s gold trading sector.
The arrests were made at a private residence around Atinga Junction in Kumasi, which had reportedly been converted into an unauthorized gold trading center. Acting on a tip-off from a whistleblower, the GoldBod taskforce conducted a raid that uncovered illegal gold buying activities allegedly intended for smuggling.
According to National Security’s Director of Investigations, Chief Superintendent Osman Alhassan, the operation led to the seizure of 1.9 million Ghana cedis, 4,500 Indian rupees, 4.363 kilograms of gold, two money-counting machines, a CCTV recorder, and an Indian passport. The suspects, who are believed to have operated in Ghana for over a decade, failed to produce any valid licenses, residence permits, work permits, or tax documentation for their activities.
Initial investigations suggest that Unique MM, the company under which the suspects operate, is owned by Musah Salifu—a Ghanaian citizen allegedly acting as a front for Goutam Katriya, the actual beneficial owner and decision-maker of the company. Authorities say none of the three individuals hold any legal authorization to deal in gold under Ghanaian law.
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In court on Monday, April 28, the suspects were remanded into custody for two weeks and are expected to reappear on May 12, 2025. They are currently being held by the National Intelligence Bureau (NIB).
Speaking at a press conference in Accra, Chief Superintendent Alhassan stressed the economic damage caused by such illegal operations. “These suspects smuggle gold through unapproved border points into India, and this has serious consequences for the Ghanaian economy,” he said. “This arrest marks the beginning of GoldBod’s intensified crackdown on illegal gold trading and smuggling.”
In a related development, GoldBod has reiterated its directive requiring all foreign nationals involved in the gold trade to exit the market by April 30, 2025. It also mandates that all gold transactions must be conducted in Ghana cedis and at the Bank of Ghana Reference Rate.
Any breach of these directives constitutes a criminal offense under the GoldBod Act, 2025 (Act 1140), as outlined in an official press release dated April 23, 2025.
Authorities have assured the public that further investigations are ongoing and that more arrests are expected as part of efforts to sanitize the gold trading sector.
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