The Achimota Circuit Court on Monday, April 28, remanded three Indian nationals into the custody of the National Intelligence Bureau (NIB) for two weeks, following their arrest by a Ghana Gold Board (GoldBod) security taskforce for alleged involvement in illegal gold trading and smuggling.
The suspects—Goutam Katriya, 35; Miraj Sarvaych, 22; and Manash Damani, 42—were arrested at a private residence near Atinga Junction in Kumasi, which authorities say had been converted into an illicit gold trading hub.
The men, believed to be operating on behalf of a company named Unique MM, are accused of engaging in black market purchases for smuggling purposes.
According to investigators, Unique MM is officially registered under the name of a Ghanaian national, Musah Salifu. However, evidence suggests that Salifu is merely a front, with Goutam Katriya acting as the actual beneficial owner and key operator of the company.
The arrest followed a tip-off from a whistleblower, prompting a joint operation by the GoldBod taskforce and National Security personnel.
At a press briefing in Accra, the Director of Investigations at National Security, Chief Superintendent Osman Alhassan, disclosed that authorities recovered GH₵1.9 million, 4,500 Indian rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport during the operation.
Preliminary findings revealed that none of the suspects held valid licenses to buy or trade gold in Ghana. Furthermore, they were unable to produce residence permits, work permits, or tax documentation for their business dealings—despite reportedly operating in Ghana for over a decade.
Chief Superintendent Alhassan issued a stern warning to both local and foreign actors involved in unauthorized gold trading.
“This arrest is just the beginning of GoldBod’s ruthless campaign against illegal gold trading and smuggling,” he stated. “We are aware the suspects have been smuggling gold through unapproved border routes into India. This undermines our economy, and we will not tolerate it.”
The three suspects are scheduled to reappear before the court on May 12, 2025.
In a related development, the Ghana Gold Board has reiterated its directive requiring all foreign nationals involved in gold trading to exit the sector by April 30, 2025. The Board further instructed that all gold transactions must be conducted in Ghana cedis, using the Bank of Ghana Reference Rate.
Violations of these regulations constitute offenses under the Ghana Gold Board Act, 2025 (Act 1140), as stated in an official press release dated April 23, 2025.
