GEORGETOWN, Guyana--Officials from the US Federal Bureau of Investigation (FBI) and the US Department of Homeland Security are helping Guyana crack down on gold smugglers, with indications that more than half of the gold produced there is illegally taken out of the country.
And it is said that some of the precious metal is also being smuggled into the South American nation.
Some of the contraband, it was reported, ends up as far away as the Middle East.
Minister of Natural Resources Raphael Trotman made the disclosure Wednesday as he reported on a visit from the FBI and Homeland Security officials who briefed top government officials about the smuggling situation. He says the two agencies are helping the country track down the money generated by smugglers.
It is estimated that approximately 15,000 ounces of raw gold is smuggled overseas every week, and 50 to 60 per cent of local production is also lost to smuggling.
“Indicators are that the gold is going to Brazil. It is going over the borders to Suriname, not to stay in Suriname but to go to Europe. It is being landed at Miami International Airport. It is being landed at John F Kennedy [Airport in New York – Ed.] and it is going to the Middle East,” Trotman said, adding that a percentage of this smuggled gold was gold that came into the country from Columbia, Brazil and Venezuela, “passing through what could be weak or porous systems.”
The Minister said those involved in the illicit trade were doing so get better prices overseas, or hide income from government to avoid paying taxes.
Trotman added that some may be using this method to launder money from ill-gotten gains.
He disclosed that several businesses were under investigation in this regard, but declined to name them.
Trotman said his Ministry will be tightening its protocols with regard to the export of gold.
Gold exports topped 451,000 ounces in declarations last year. ~ Caribbean360 ~
