By Daniel Bampoe
Three Indian Nationals have been arrested by a security taskforce from the Ghana Gold Board (GoldBod) over allegations of gold smuggling and operating without valid authorization.
The suspects, Goutam Katriya, 35, Miraj Sarvaych, 22, and Manash Damani, 42, are said to have been engaged in gold trading operations in Kumasi and Accra for over a decade without the necessary permits and documentation.
The arrest, which took place at a private residence at Atinga Junction in Kumasi — allegedly converted into an illicit gold trading hub — followed a tip-off from a whistleblower.
Acting on the intelligence, the GoldBod taskforce stormed the premises and seized 4.363 kilograms of gold, GH¢1.9 million in cash, 4,500 Indian rupees, two counting machines, a CCTV recorder, and an Indian passport.
At a press conference in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, confirmed the arrests and disclosed that none of the suspects possessed valid licenses to engage in gold purchases or exports in Ghana.
Additionally, the suspects failed to produce residence permits, work permits, or tax payment records, raising further suspicions about the legitimacy of their operations.
The men were arraigned before the Achimota Circuit Court on Monday and were remanded into National Intelligence Bureau (NIB) custody for two weeks.
They are scheduled to reappear before the court on May 12, 2025.
Investigators have also revealed that the three suspects operate under the banner of Unique MM, a company registered in Ghana.
While the business is officially owned by Ghanaian national Musah Salifu, National Security believes he is merely a front for Goutam Katriya, who they describe as the real beneficial owner and “alter ego” of the company.
This arrangement, authorities say, was designed to circumvent laws restricting foreign control in the artisanal and small-scale mining sector.
The arrests come at a time when GoldBod has intensified efforts to sanitize the gold trading ecosystem.
In recent months, the agency has launched what it describes as a “ruthless war” on illegal gold traders and smugglers.
Chief Superintendent Alhassan stated that the suspects are believed to have been smuggling gold out of Ghana through unapproved border routes into India — an operation that has severe implications for Ghana’s economy, particularly in terms of revenue losses and foreign exchange management.
“This arrest is only the beginning,” Alhassan warned.
“We are still gathering intelligence on several illegal gold traders and smugglers. And very soon, we shall take necessary action.”
The NDC – GoldBod has also reiterated its directive that all foreign nationals involved in the gold trading sector must exit the market by April 30, 2025.
In a press release dated April 23, the agency emphasized that all gold transactions in the country must be conducted in Ghana cedis and at the Bank of Ghana’s official reference rate.
Violators of these directives risk prosecution under the Ghana Gold Board Act, 2025 (Act 1140).
