Three Indian nationals suspected of engaging in illicit gold trade have been apprehended by the GoldBod Security Taskforce in a targeted operation in Kumasi.

The suspects—Goutam Katriya, 35; Miraj Sarvaych, 22; and Manash Damani, 42—were picked up from a private residence around Atinga Junction that had been converted into an unauthorized gold trading hub.

The trio reportedly operated under a company named Unique MM, which is allegedly fronted by a Ghanaian, Musah Salifu, but believed to be owned and controlled by Katriya.

The arrest followed a tip-off from a patriotic informant who reported that the suspects were purchasing gold on the black market for smuggling purposes. Acting on this intelligence, the taskforce moved swiftly to raid the premises.

During a press conference in Accra, Chief Superintendent Osman Alhassan, Director of Investigations at National Security, detailed the items retrieved from the residence. "An amount of 1.9 million cedis, 4,500 rupees, 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport were found in the possession of the suspects,” he disclosed.

Preliminary findings revealed that none of the individuals had valid licenses to trade in gold within Ghana. Despite operating in the country for over ten years, the suspects failed to produce any residence or work permits, nor any tax documentation related to their operations.

Further investigations have also revealed that the named Ghanaian, Musah Salifu, is merely a proxy, with Goutam Katriya identified as the true beneficial owner and alter ego of Unique MM.

“This arrest is only the beginning of GoldBod’s ruthless war against illegal gold trading and gold smuggling. We know that the arrested suspects smuggle gold through unapproved border points into India. This has serious negative consequences for the Ghanaian economy. We are still gathering intelligence on several illegal gold traders and smugglers. And very soon, we shall take necessary action,” Chief Superintendent Alhassan warned.

The suspects were arraigned before the Achimota Circuit Court and remanded into custody for two weeks. They are expected to reappear before the court on May 12, 2025.

Meanwhile, the GoldBod has reinforced its directive that all foreign nationals involved in gold trading must exit the sector by April 30, 2025. Additionally, all transactions in the gold market are to be conducted in Ghana cedis and based on the Bank of Ghana’s Reference Rate.

“A breach of these directives shall constitute a punishable offense under the GoldBod Act, 2025 (Act 1140),” stated a press release dated April 23, 2025.