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Gold Board staffers sent home in gold-fixing probe

Nov 10, 2017 News

Two staffers of the Guyana Gold Board (GGB) have been sent home amidst investigations into alleged cooking of the books.
According to sources, currently off-duty now are the accountant Rosanna Ramnarine and a junior staffer, Deborah Forbes.
It is being reported that the decision to send the two home is part of a larger overhaul of the Gold Board and an expanding probe stemming from a major investigation involving top officials of the entity who were relieved of their duties earlier this year.
Sources indicated that a scam, involving millions of dollars, monthly, was being run where gold brought in for sale by miners was being recorded as less with the miners not receiving the correct amount.
Gold Board workers shaved off some of the gold presented and kept the shavings for themselves.
It is unclear how this could have happened as the secured area at the Brickdam office has security cameras.
Gold Board is the official buyer of the yellow metal for Government.
It has been proving a headache for recent administrations because of billions of dollars in deficits, made worse by the fall of gold prices about five years ago.
At the Gold Board this year, three senior officials- General Manager, Lisaveta Ramotar; her deputy, Andrea Seelochan and Legal Officer, Suzanne Bullen, were sent home also for alleged collusion with dealer, Saddiqi ‘Bobby’ Rasul.
Rasul, a Bartician, who lost his dealer’s licence, is being investigated for money laundering.
The administration has signaled an overhaul at Gold Board with calls for the entity to stop buying gold, as a way to reduce the risk of Government losing monies.
Rather, the entity is being recommended to act more as a regulator.

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