Billions of dollars deposited to bank accounts…Investigators await legal advice on Permanent Secretary matter

Nov 25, 2016 News

Investigators are continuing their probe into billions of dollars which were passed through the bank accounts of Permanent Secretary of the Ministry of the Presidency, Omar Shariff.

Permanent Secretary, Omar Shariff

Shariff, who was arrested in late June at his office, was sent on administrative leave.
Yesterday, Minister of State, Joseph Harmon, when questioned, said that official remains on leave.
Several documents have been submitted to the legal authorities, including the Director of Public Prosecutions (DPP) and the police legal department, for advice.
Harmon was not prepared to entertain more questions about the investigations yesterday.
He was asked during the weekly post-Cabinet press briefing at the Ministry of the Presidency.
In late June, news broke that investigators had arrested Shariff at his office.
They were probing how billions of dollars passed through his bank accounts from as far back as 2010.
Sources had indicated that Shariff made investments in shares of several companies and in properties across the country.
He was reportedly arrested by officials of the State Assets Recovery Unit (SARU) and the Special Organised Crime Unit (SOCU).
There are records showing that he and his reputed wife purchased shares in companies like Demerara Distillers Limited (DDL), Banks DIH and even the Guyana Bank For Trade and Industry (GBTI).
Investigators are also tracking several properties that may have been purchased by the official, and placed in the name of his reputed wife.
The properties, including lands and homes, are scattered across the country, officials say.
Investigators would have been questioning the origin of the monies used to buy the properties and shares.
Shariff is one of the most senior officials to be arrested by the new administration in its anti-corruption crackdown. He was accused of money laundering and tax evasion.
Officials had explained that between 2010 and this year, there were hundreds of transactions in several bank accounts. The accounts were held at different commercial banks.
From the bank accounts that investigators managed to ascertain that more than $10B would have been deposited.
What is strange about this case is that not many businesses in Guyana would actually experience a turnover of what was deposited to the accounts.
Worse yet, Shariff appeared to have paid very little taxes, despite having at least one impressive-looking property he has and lives in at a prime location in Kitty.
The Guyana Revenue Authority had stepped in to be part of the investigations.
However, even if that tax issue is settled, it is unlikely that money laundering accusations would go away anytime soon, especially as the country has adopted tough, new regulations.
Shariff is reportedly claiming that the monies were proceeds from his phone card sales and other businesses.
Shariff, 43, had worked at Freedom House before being hired by the Bharrat Jagdeo administration in the Press and Publicity Unit of the Office of the President.
Shortly after President Donald Ramotar was sworn in late 2011, he was appointed Permanent Secretary at Office of the President, a position previously held by Dr. Nanda Gopaul, who left the post after becoming a Minister. Before that, he was reportedly at the Ministry of Health, in a key procurement position.
Shariff reportedly fell under the eyes of SARU and SOCU last year during an investigation into the disappearance of $600M. The monies were supposedly to be paid to the Ministry of Public Service. However, there were no traces of it. Investigations later led to the then Minister, Dr. Jennifer Westford, being charged along with her former assistant and placed before the court.
Investigators on that case apparently honed in on Shariff and started tracking his business.
It was then that they noticed unusually large amounts being deposited into his accounts.
Around mid-last year, one bank reportedly became suspicious after attempts were made to deposit up to $500M at separate times to bank accounts linked to Shariff.
The suspicious transactions were reported to the authorities, with the bank halting transactions.
Shariff was a candidate for the People’s Progressive Party/Civic in last year’s General Elections. The new administration had kept him in that position, saying they were not in the business of witch-hunting.