The Guyana Revenue Authority (GRA) has formally withdrawn all tax-related charges against businessmen Nazar and Azruddin Mohamed of Mohamed’s Enterprise, effectively bringing local proceedings to a close.
The father and son appeared Thursday morning before Chief Magistrate Faith McGusty at the Georgetown Magistrates’ Court, where the GRA prosecutor informed the court that the agency would no longer pursue the case. No reason for the withdrawal was provided.
The case had originated from an extensive audit of Mohamed’s Enterprise’s gold export records and financial statements. The GRA had previously alleged that the Mohameds underreported income and failed to submit true and correct tax returns for the 2020–2024 assessment years (income years 2019–2023), resulting in an estimated $34.07 billion in understated income tax, with total amounts due—including interest and other sums—calculated at $191.17 billion.
Specific charges had claimed that Nazar Mohamed understated his tax liability on gold exports by nearly $4.94 billion, while Azruddin Mohamed, recently sworn in as an Opposition Parliamentarian, allegedly understated his obligation by more than $7.03 billion. Additional claims against Nazar included an underreporting of roughly $6.96 billion in another instance.
Although the local tax action has been discontinued, both men remain under U.S. scrutiny. In June 2024, the U.S. Department of the Treasury sanctioned Nazar and Azruddin Mohamed for alleged corruption and tax evasion within Guyana’s gold export industry. A U.S. grand jury in the Southern District of Florida subsequently indicted them in October 2025 on charges including conspiracy, mail and wire fraud, money laundering, and gold smuggling. According to U.S. authorities, the scheme allegedly involved the export of over 10,000 kilogrammes of gold without proper taxes or duties, costing Guyana an estimated US$50 million in lost revenue.
With the withdrawal of local tax proceedings, attention now turns to the ongoing U.S. criminal investigations and the broader examination of compliance and regulation in Guyana’s gold sector.
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