Three Indian nationals suspected of engaging in illegal gold trading and smuggling activities have been arrested by the GoldBod Security Taskforce following a tip-off from a whistleblower.

The suspects — Goutam Katriya, 35; Miraj Sarvaych, 22; and Manash Damani, 42 — were apprehended at a private residence near Atinga Junction in Kumasi, which had been converted into an unauthorised gold trading centre.

The trio are reportedly gold dealers operating in both Kumasi and Accra under the name Unique MM, a company allegedly fronted by a Ghanaian, Musah Salifu.

According to National Security, investigations suggest that Salifu is merely a proxy for Katriya, who is believed to be the true beneficial owner of the company.

At a press conference in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, disclosed that the suspects were purchasing gold at black market rates for the purpose of smuggling it out of the country, particularly to India through unapproved border routes.

Items recovered during the operation include GHC 1.9 million, 4,500 Indian rupees, 4.363 kilograms of gold, two currency counting machines, a CCTV recorder, and an Indian passport.

Chief Superintendent Alhassan further revealed that the suspects did not possess any valid license to trade in gold in Ghana.

Additionally, they failed to produce residence or work permits, or any documentation indicating compliance with local tax obligations, despite having operated in the country for over a decade.

The suspects were arraigned before the Achimota Circuit Court on Monday and have been remanded into custody until May 12, 2025.

“The arrest marks the beginning of GoldBod’s aggressive campaign against illegal gold trading and smuggling,” said Chief Superintendent Alhassan.

“These activities undermine the economy, and we are actively pursuing intelligence on other individuals and syndicates engaged in similar crimes.”

In a related development, the Ghana Gold Board (GoldBod) has reaffirmed its directive requiring all foreign nationals involved in the gold trading sector to exit the market by April 30, 2025.

The Board has also instructed all gold transactions to be conducted in Ghana cedis and at the Bank of Ghana’s reference rate.

According to a press release dated April 23, 2025, any breach of these directives constitutes an offence under the GoldBod Act, 2025 (Act 1140).