Three Indian nationals—Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42—have been arrested by the GoldBod Security Taskforce on suspicion of gold smuggling.
The trio, who have been operating as gold traders in Kumasi and Accra on behalf of Unique MM, were apprehended at a private residence in the Atinga Junction area of Kumasi, which had been converted into an illicit gold trading center.
The arrest followed a tip-off from a whistleblower who reported that the suspects were purchasing gold at black market prices with the intent to smuggle it out of the country.
The suspects were arraigned before the Achimota Circuit Court on Monday and have been remanded into custody for two weeks pending further investigation.
At a press briefing in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, disclosed that during the arrest, authorities recovered 1.9 million Ghana cedis, 4,500 Indian rupees, 4.363 kilograms of gold, two currency counting machines, a CCTV recorder, and an Indian passport from the suspects.
Preliminary investigations revealed that none of the individuals possess valid licenses to buy or trade gold in Ghana. Despite operating in the country for over a decade, the suspects have also failed to provide any residence permits, work permits, or tax records related to their business activities.
Further findings indicate that Musah Salifu, a Ghanaian who is officially listed as the sole shareholder of Unique MM, is merely a front for Goutam Katriya, who is believed to be the true beneficial owner and controlling force behind the company.
Chief Superintendent Alhassan used the opportunity to warn both local and foreign nationals against flouting the Ghana Gold Board Act and other laws regulating the gold trade in the country.
“This arrest is only the beginning of GoldBod’s ruthless war against illegal gold trading and gold smuggling. We know that the arrested suspects smuggle gold through unapproved border points into India. This has serious negative consequences for the Ghanaian economy. We are still gathering intelligence on several illegal gold traders and smugglers. And very soon, we shall take necessary action.” he said.
The suspects are to remain in NIB custody until May 12, 2025, when they are expected to reappear before the court.
In a related matter, the GoldBod has reiterated its directive for all foreigners in the gold trading sector to exit the market by 30th April, 2025.
All persons dealing in gold have also been directed to trade in Ghana cedis and at the Bank of Ghana Reference Rate.
A breach of these directive, shall constitute a punishable offense under the GoldBod Act, 2025 (ACT 1140). This was contained in a Press Release issued by the GoldBod dated 23 April, 2025.
