OFAC Sanctions Guyana Family, Official for Corruption
The Office of Foreign Assets Control this week sanctioned one of Guyana’s wealthiest families, their company, a Guyanese government official and two other other companies for ties to corruption. The sanctions target people and companies that have tried to “exploit Guyana’s underdeveloped gold sector for personal gain,” said Brian Nelson, the Treasury Department’s undersecretary for terrorism and financial intelligence.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
OFAC sanctioned Nazar Mohamed, his son, Azruddin Mohamed, and their company, Mohamed’s Enterprise, for evading tax revenues on gold exports, bribing customs officials and other corrupt activities in Guyana’s gold sector. The agency said they “have engaged in extensive bribery schemes,” including by paying bribes to Mae Thomas, permanent secretary of the Ministry of Labour, who helped award contracts to the Mohamed family.
OFAC also designated Hadi’s World, owned by Mohamed’s Enterprise, and Team Mohamed’s Racing Team, owned by Azruddi. Hadi’s World is a Guyana-based subsidiary of Mohamed’s Enterprise, and Team Mohamed’s Racing Team is a drag racing organization in the country.