Foreign Gold Traders Nabbed with GH¢1.9M and 4kg of Gold

In a major operation targeting the illegal gold trade, the GoldBod security taskforce has arrested three suspected gold smugglers in Kumasi.

The suspects—Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42)—are all Indian nationals linked to gold trading activities in Kumasi and Accra.

They were picked up from a private residence near Atinga Junction, which had been turned into an unlicensed gold trading hub.

According to National Security, the arrest followed a tip-off from a concerned citizen who reported that the trio were buying gold at black market rates with the intent to smuggle it out of Ghana.

At a press briefing in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, revealed that 4.363 kilograms of gold, GH¢1.9 million, 4,500 Indian rupees, two money-counting machines, a CCTV recorder, and an Indian passport were seized during the raid.

The suspects appeared in court at the Achimota Circuit Court on April 28, where they were remanded into custody for two weeks pending further investigations.

Preliminary checks showed that none of the suspects had valid licenses to deal in gold in Ghana. They also failed to provide any residence or work permits, nor any proof of tax compliance.

Investigators further allege that Unique MM, the company they work under, is officially owned by a Ghanaian named Musah Salifu—but in reality, is controlled by Goutam Katriya, the main suspect.

“This arrest marks the beginning of a wider crackdown on illegal gold trading and smuggling operations,” warned Chief Superintendent Alhassan. “Such acts harm our economy and violate the Ghana Gold Board Act.”

The suspects will remain in custody until their next court appearance on May 12, 2025.

Meanwhile, GoldBod has reiterated its April 30 deadline for all foreigners in the gold trade to exit the market.

All gold transactions are to be done in Ghana cedis, using the Bank of Ghana reference rate, or violators risk prosecution under the GoldBod Act, 2025 (Act 1140).