The Guyana Revenue Authority (GRA) on Thursday morning withdrew and discontinued tax-related charges against Guyanese businessmen and gold dealers Nazar and Azruddin Mohamed of Mohamed’s Enterprise.
The father and son appeared before Chief Magistrate Faith McGusty at the Georgetown Magistrates’ Court, but when the matter was called, the GRA’s prosecutor informed the court that the agency would no longer be pursuing the case.
No reason was provided for the decision.
The case stemmed from what the GRA previously described as an extensive audit of the company’s gold export records and financial statements. Thursday’s withdrawal brings those proceedings to an immediate close.
The GRA had conducted a review of Income and Property Tax returns for Years of Assessment 2020 to 2024 (income years 2019–2023) and found that the Mohameds, trading as Mohamed’s Enterprise, failed to submit true and correct returns. This underreporting resulted in $34.07 billion in understated income tax, with total amounts due—including accrued interest and other sums—calculated at $191.17 billion.
The GRA had charged that Nazar Mohamed filed an incorrect tax return reporting $66,768,646 in liability on gold exports, thereby understating his taxable amount by nearly $4.94 billion, in violation of Section 110(1)(a) of the Income Tax Act, Chapter 81:01.
Also, the GRA had alleged that Azruddin Mohamed, who was Monday last sworn in as an Opposition Parliamentarian, reported a tax liability of $105,483,295 on gold exports, understating his true taxable obligation by over $7.03 billion, contrary to Section 110(1)(a) of the Income Tax Act, Chapter 81:01.
The GRA had charged that Nazar Mohamed filed an incorrect tax return reporting $127,212,785 in liability on gold exports, understating his taxable amount by approximately $6.96 billion, in breach of Section 110(1)(a) of the Income Tax Act, Chapter 81:01, among others.
The now-discontinued case in local courts comes amid ongoing U.S. investigations into the Mohamed family and their business dealings. In June 2024, the United States Department of the Treasury sanctioned both Nazar and Azruddin Mohamed for alleged corruption and tax evasion within Guyana’s gold export industry, claiming they had exploited the under-regulated sector to enrich themselves.
Later, in October 2025, a U.S. grand jury in the Southern District of Florida formally indicted the two men on multiple charges, including conspiracy, mail and wire fraud, money laundering, and gold smuggling. The indictment alleges that over 10,000 kilogrammes of gold were exported without proper taxes or duties being paid — a scheme that U.S. authorities estimate cost Guyana roughly US$50 million in lost revenue.
With the local tax action now discontinued, the focus surrounding the Mohamed family’s alleged financial improprieties shifts increasingly toward the ongoing U.S. criminal proceedings and the broader scrutiny of Guyana’s gold export sector.
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