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Businessman charged with money laundering
Kaieteur News- The 43-year-old owner of GaGo Gold was granted $1.7M bail on Monday when he appeared at the Georgetown Magistrates’ Court to answer to charges of money laundering.
Sebastiao De Oliveira Moura
Sebastiao De Oliveira Moura, of Lot 19 Albert Street, Georgetown, appeared before Acting Chief Magistrate Faith McGusty. He was charged with five counts of money laundering. He was not required to plead. It is alleged that on February 7, 2024, at Georgetown, Moura allegedly acquired US$6,057, equivalent to GYD 1.2 M. It is also alleged that on the same day at the said address, the businessman acquired 4018.15 pennyweight of melted gold, valued $80M, as well as $81M in cash and 3.5 grams of diamond, valued $500,000.
The final charge alleged that on or between January 1 and February 29, 2024, at the said address, Moura converted or transferred $255.6M, having reason to believe that the said amount, in whole or in part, derived directly from proceeds of crime.
The businessman was represented by attorney-at-law Latchmie Rahamat, who told the court that in February 2024, the Special Organized Crime Unit (SOCU) raided her client’s place of business and seized over $160M in cash and gold, which have not yet been returned to him.
She added that on April 3, 2025, Chief Justice Roxane George heard that due to the charges against Moura, he is no longer allowed to do business since the Guyana Geology and Mines Commission (GGMC) refuses to renew his gold licence. Rahamat said the Chief Justice, after hearing the case, passed an order in the High Court instructing SOCU to return all the properties that belong to Moura on the said day.
Attorney Rahamat later revealed that since February 2024, SOCU has been conducting their investigations to prove that her client is indeed involved in money laundering, and he was not charged until less that 24hrs after the order was passed by the Chief Justice.
Moura was in police custody for 48 hours in 2024, after which he was released on $1M station bail. Meanwhile, the prosecution requested substantial bail given the nature of the charges. They also agreed with the argument presented by the attorney. Magistrate McGusty, after hearing the argument, granted Moura $350,000 bail on each of the five charges, totaling $1.7 M. The matter was adjourned until April 22, 2025.
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