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Criminal charges likely for several in Gold Board case
The police are reportedly set to recommend criminal charges for a number of persons
implicated in alleged money laundering transactions at the Guyana Gold Board (GGB).
The charges stemmed from suspicious transactions starting last year, involving former Bartica gold dealer, Saddiqi ‘Bobby’ Rasul.
The investigations are being handled by the police’s Special Organised Crime Unit (SOCU).
While SOCU is tightlipped, police sources disclosed that the investigation files containing the recommendations of the charges should be submitted in a matter of days to the Director of Public Prosecutions (DPP).
Earlier this year, General Manager (GM) of the Guyana Gold Board (GGB), Lisaveta Ramotar; Deputy GM, Andrea Seelochan and Legal Officer, Suzanne Bullen, were all sent on administrative leave pending investigations.
The GM is the daughter of former President, Donald Ramotar.
It is alleged that they facilitated or simply did not pay attention to transactions conducted by Rasul who sold large quantities of gold that could not possibly come from gold mines he claimed he had.
In fact, Bullen, despite being the Legal Officer at GGB, allegedly helped Rasul establish SSS Minerals Trading Enterprise Inc., a gold dealer company that she would have had to monitor- her signature was on the documents.
This is being viewed as a conflict of interest situation as that mining company belonging to Rasul was later implicated in orchestrating a plot to not pay taxes and royalties.
Rasul was arrested and charged in a high profile case earlier this year after he allegedly defrauded the Bartica branch of Guyana Bank For Trade and Industry (GBTI) of more than $950M in a cheque deposit scheme that involved Citizens Bank. He was placed on $3M bail, leaving GBTI’s profits severely affected. The case is ongoing.
Bullen allegedly claimed that she received instructions from higher up in Gold Board to assist in establishing SSS Minerals.
Investigators had wanted to know why GGB did not red-flag Rasul’s transactions. The gold dealer burst onto the gold trading scene last year, rapidly rising to become one of the biggest sellers to GGB.
What should have raised staffers’ suspicions was the fact that Rasul allegedly used a company he owned – R. Mining – to conduct the majority of his business with GGB.
There was a reason for this. Under regulations, mining companies are not required to pay the two percent tax. They are, however, mandated to pay the five percent tax.
In essence, Rasul is alleged to have bought gold through his gold dealing company, SSS Minerals, later passing it through R. Mining to the GGB.
Rasul’s activities have drawn the attention of not only SOCU but also the Guyana Revenue Authority.
Investigators seized vehicles and raided several city, Essequibo coasts, and Bartica properties of Rasul. His business partners were also pulled in.
Among the vehicles were a Lexus SUV and Toyota pickup, both bullet-proofed.
Police have also seized several guns and a significant quantity of documents.
The guns belonged to Rasul’s security company- more than 30 of them were seized.
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