Police on the Corentyne, in Berbice, are on the hunt for four bandits who relieved businessman Ishwarnauth Bisram of $720,000 on Monday night.
Reports reaching this newspaper state that the businessman was beaten and robbed, at around 22:05 hours, just as he was about to enter his yard at Belvedere, on the Lower Corentyne.
According to a release from the Police Public Relations Department, three of the bandits were armed with handguns.
Investigations revealed that Bisram returned home after conducting business, and had just completed parking his vehicle when he was confronted by the men, who held him at gunpoint and took away the cash and some documents before making good their escape.
Police also say that, during the incident, Bisram was struck on the back of his head with a firearm.