GEORGETOWN – A high-stakes sting in Bartica has blown the lid off what investigators suspect is a lucrative underground gold racket, with more than $130 million in cash and gold seized in a single sweep. The dramatic SOCU operation unfolded on Tuesday in Region Seven, where officers stormed multiple locations and hauled in three men now accused of buying precious metal far outside the law.
The raids turned up over $32 million in raw cash and more than $100 million worth of gold, a haul authorities believe was meant for illegal trade. For months, intelligence agencies had quietly tracked what they suspected was a shadow network thriving off undeclared gold, bleeding the country’s resources and enriching a few well-placed operators.
Those detained have since been identified as Eon Ricardo Ferrier, known locally as “Blacks,” along with Munesh Chatterpaul and Latchman Malloo. The men are now at the center of an expanding investigation into possible money laundering and gold smuggling operations. SOCU confirmed they are being questioned as the search widens for others who may be connected.
Behind the scenes, investigators are probing whispers of wider networks and financiers who may be bankrolling illegal purchases, though officials are stressing that evidence is still being gathered and no conclusions have been drawn. But one thing is clear, this is no small-time hustle.
Government officials have hailed the bust as a major strike against what they describe as organized criminal enterprises draining the State of millions in lost revenue and threatening oversight of Guyana’s prized natural resources. With the Bartica sting revealing just how bold illegal traders have become, law enforcement says Tuesday’s arrests are only the beginning.
More suspects could soon be in handcuffs as authorities prepare to go deeper into the gold underworld.
