TREASURY TARGETS CORRUPTION NETWORK IN GUYANA

**A man passes by Mohamed’s Enterprise office in Georgetown, Guyana, June 29, 2023. To match Special Report EXXON MOBIL-GUYANA/ REUTERS/Sabrina Valle**

WASHINGTON, D.C., June 11, 2024 — The Department of the Treasury’s Office of Foreign Assets Control (OFAC) today sanctioned members of one of Guyana’s wealthiest families, Nazar Mohamed (Nazar) and his son, Azruddin Mohamed (Azruddin), their company, Mohamed’s Enterprise, and a Guyanese government official, Mae Thomas (Thomas), for their roles in public corruption in Guyana, OFAC announced in a press release

Additionally, OFAC designated two other entities, Hadi’s World and Team Mohamed’s Racing Team, for being owned or controlled by Mohamed’s Enterprise and Azruddin, respectively. These individuals and entities are sanctioned pursuant to Executive Order (E.O.) 13818, which builds upon and implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption around the world.

“Today’s action underscores our commitment to holding accountable those who seek to exploit Guyana’s underdeveloped gold sector for personal gain,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “Treasury, in close coordination with our partners in U.S. law enforcement, will continue to take action to safeguard the U.S. financial system from abuse by corrupt actors.”

In a statement released today, the Government of Guyana said it “has taken careful note of a press release issued by the United States Department of the Treasury on 11 June 2024, which informed of three Guyanese nationals and entities as being sanctioned by the Department’s Office of Foreign Assets Control (OFAC). The statement said that Permanent Secretary of the Ministry of Labour Mae Thomas (above) was sent on leave with immediate effect.

These actions were conducted in coordination with Homeland Security Investigations New York Organized Crime Drug Enforcement Task Force (OCDETF) Strike Force, Diplomatic Security Service, Customs and Border Protection (CBP) Office of Intelligence – New York Operations, and the Federal Bureau of Investigation’s Miami Field Office, with assistance from HSI Miami, CBP Miami and New York Field Offices, New York City Police Department Intelligence Bureau, and the Drug Enforcement Administration.

THE MOHAMED’S ABUSE OF GUYANA’S GOLD INDUSTRY

Gold is one of Guyana’s main exports, but it remains a highly fractured industry with small-scale gold mining operations in Guyana occupying a majority share of the country’s gold production. These small, family-owned businesses have informal relationships with larger purchasers and traders like Mohamed’s Enterprise. Once mined, Guyanese gold is sold and traded throughout international markets, including the United States, Canada, the United Arab Emirates, and the European Union.

Azruddin Mohamed cultivates a flashy image on social media, posting pictures of himself wearing designer clothes and driving exotic sports cars, like this Lamborghini he posed with on his Facebook account.

Nazar Mohamed founded Mohamed’s Enterprise in Guyana before expanding to the United States as a moneychanger and transitioned into gold trading, growing Mohamed’s Enterprise into one of Guyana’s largest gold exporters. In time, Azruddin Mohamed ultimately took over Mohamed’s Enterprise, which also now does business as “Confidential Cambio.”

Azruddin and Mohamed’s Enterprise evaded Guyana’s tax on gold exports and defrauded the Guyanese government of tax revenues by underdeclaring their gold exports to Guyanese authorities. Between 2019 and 2023, Mohamed’s Enterprise omitted more than 10 thousand kilograms of gold from import and export declarations and avoided paying more than $50 million in duty taxes to the Government of Guyana.

Exxon contractors Azruddin Mohamed and his father, Nazar, are being investigated by U.S. authorities on suspicion of drug trafficking and other crimes. Azruddin has posted pictures of himself with rifles on social media, including this shot from his Instagram account.

Mohamed’s Enterprise has bribed customs officials to falsify import and export documents, as well as to facilitate illicit gold shipments. Mohamed’s Enterprise had paid bribes to Guyanese government officials to ensure the undisrupted flow of inbound and outbound personnel that move currency and other items on behalf of Azruddin and Mohamed’s Enterprise.

In addition, Azruddin is the principal and owner of Team Mohamed’s Racing Team, a drag racing organization in Guyana. Hadi’s World is a Guyana-based subsidiary of Mohamed’s Enterprise.

See complete OFAC press release at https://home.treasury.gov/news/press-releases/jy2401