By affedzie 
In a significant development in the fight against illegal gold trading, the GoldBod Security Taskforce has apprehended three Indian nationals suspected of engaging in illicit gold operations in Ghana. The arrests were made at a private residence near Atinga Junction in Kumasi, which had reportedly been converted into an unauthorized gold trading center.
Who Are the Suspects?
The suspects — Goutam Katriya (35), Miraj Sarvaych (22), and Manash Damani (42) — were allegedly acting on behalf of Unique MM, a company reportedly owned by one Musah Salifu, a Ghanaian citizen believed to be fronting for Katriya, the suspected actual owner.
A whistle-blower’s tip led to the bust, revealing that the suspects were purchasing gold at black market rates with the intent to smuggle it out of the country.
Court Appearance and Remand
The three men were arraigned before the Achimota Circuit Court on Monday, April 28, 2025, and have since been remanded into custody for two weeks, pending further investigation. Their next court appearance is scheduled for May 12, 2025.
What Was Seized?
At a press briefing in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, revealed that authorities recovered:
- GH¢1.9 million in cash
- 4,500 Indian rupees
- 4.363 kilograms of gold
- Two money counting machines
- A CCTV recorder
- An Indian passport
These findings add weight to allegations that the suspects were involved in high-volume, unregulated gold trading operations.
Licensing and Legal Violations
Investigations have confirmed that none of the suspects held valid licenses to trade in gold in Ghana. Despite reportedly being involved in the gold sector for over a decade, they failed to present any legal documentation, such as:
- Residence permits
- Work permits
- Tax records
These omissions point to long-term illegal activity in violation of Ghana’s gold trade regulations.
A Warning from Authorities
Chief Superintendent Alhassan issued a strong warning to all individuals and entities operating in Ghana’s gold sector:
“This arrest marks only the beginning of GoldBod’s relentless campaign against illegal gold trading and smuggling. We have credible intelligence that gold has been smuggled through unauthorized border points into India, which severely impacts Ghana’s economy. We are continuing to investigate other illegal operations, and more arrests will follow.”
Policy Update: Foreign Nationals Must Exit Gold Trade
In a related move, GoldBod has reaffirmed its directive that all foreign nationals involved in the gold trade must exit the sector by April 30, 2025. Furthermore:
- All gold transactions must be conducted in Ghana cedis
- Transactions must be based on the Bank of Ghana Reference Rate
These regulations are in line with the Ghana Gold Board Act, 2025 (Act 1140). Failure to comply will be considered a criminal offence.
Conclusion
The recent arrest highlights the Ghanaian government’s renewed commitment to enforcing gold trade regulations and protecting the country’s natural resources from illegal exploitation. As GoldBod ramps up its enforcement efforts, all operators — local and foreign — are urged to comply with the law or face serious consequences.
Stay tuned for further updates on this developing story.
