When U.S. authorities announced charges against prominent Guyanese businessmen Nazar and Azruddin Mohamed, they revealed what prosecutors say is a years-long operation aimed at hiding millions in unpaid taxes through a complex web of deception.
The indictment, filed in the Southern District of Florida, traces the alleged plot back to 2017. What began as a legitimate gold export business reportedly evolved into a global money trail stretching from Guyana to the United States and the Middle East. The alleged scheme operated quietly for nearly seven years, enriching its creators while draining Guyana’s treasury of significant tax revenue.
Prosecutors allege that Mohamed’s Enterprise, a leading gold exporter in Guyana, initially followed legal procedures—paying taxes and royalties to the Guyana Revenue Authority and the Guyana Gold Board on specific shipments. After obtaining official seals and export clearances, the same documents were supposedly reused for additional shipments, enabling the company to move large amounts of gold without paying the required fees.
The indictment also shows that this operation relied on assistance from people inside the customs network. Some officials were allegedly paid to overlook discrepancies as shipments left Georgetown for international markets, including Miami and Dubai.
According to investigators, the illegal export involved over ten tons of gold, worth about fifty million U.S. dollars in unpaid royalties and taxes from 2017 to 2024. The profits were reportedly funneled through freight forwarders, shell companies, and cross-border bank transfers—obscuring the true source of the funds.
One particularly daring move described by prosecutors involved shipping empty containers. Boxes with official Guyanese seals were allegedly sent from Dubai to Miami and then to Guyana to create the appearance of legitimate trade activity. Emails attributed to Nazar Mohamed supposedly show these staged shipments, making it seem like there was compliance while hiding the fact that no real goods were involved.
The Supercar Connection
The indictment also shows how some of the alleged illegal proceeds were converted into luxury assets. One notable example is Azruddin Mohamed, who reportedly coordinated the purchase of a Lamborghini Aventador SV in California, valued at around US$680,000. To avoid import duties and taxes, authorities allege he instructed associates to significantly undervalue the car—listing it as only US$75,300 on official documents filed with Guyana’s tax agency.
That misrepresentation, prosecutors say, allowed the vehicle to enter Guyana with a fraction of the taxes owed. This act, along with similar undervaluation of other luxury imports, became a key part of ongoing cases before Guyana’s courts.
The U.S. government’s case now seeks not only convictions but also the forfeiture of assets linked to the network. Among these is a shipment of gold seized at Miami International Airport in mid-2024, valued at over five million dollars.
Legal Fallout in Guyana
Back home, Azruddin Mohamed faces multiple charges under the Customs Act for submitting false declarations and avoiding duties worth hundreds of millions of Guyanese dollars. Although legal proceedings are ongoing, the family still possesses the contested vehicles after a court ruling earlier this year blocked the Guyana Revenue Authority’s attempt to seize them. The GRA has since appealed, and a final decision is expected by the end of October.
What initially began as an investigation into export irregularities has now grown into a transnational case linking gold, global finance, and luxury assets. Whether the courts ultimately confirm these allegations or not, the “Golden Mirage” has already cast a long shadow over Guyana’s gold industry and the credibility of its trade oversight systems.