Azruddin Mohamed Shakes National Assembly with Explosive Disclosures on Gold and Political Funding
By Travis Chase | HGP Nightly News |
GEORGETOWN, GUYANA — An “uneasy silence” settled over the National Assembly as Leader of the Opposition Azruddin Mohamed delivered a maiden budget presentation that transcended fiscal policy, venturing into the high-stakes world of political financing and national security. In a series of startling disclosures, Mohamed claimed that his former enterprises were once the primary backbone of Guyana’s foreign exchange market and that his financial support was a key factor in the PPP/C’s political machinery.
The remarks, delivered under parliamentary privilege, shifted the atmosphere in the House as Mohamed transitioned from critic to a primary witness of the intersection between private wealth and state power.
“I Bankrolled the PPP”: The Political Funding Revelation
In perhaps his most damaging assertion, Mohamed addressed the government benches directly, claiming that as a businessman, he provided significant financial support to both of Guyana’s major political parties. However, he specifically singled out the governing People’s Progressive Party (PPP).
“In 2018, I helped bankroll the PPP,” Mohamed bluntly declared, causing a noticeable hush to fall over the chamber. He suggested that his role was not that of a peripheral supporter but a central financier who understands “how campaigns are funded and how power is sustained.”
Addressing Minister Kwame McCoy specifically, Mohamed cautioned the House about the handling of such funds, adding a layer of personal insight into the internal mechanics of political contributions.
The FX “Safety Net” and Gold Leakage
Mohamed challenged Senior Minister with Responsibility for Finance, Dr. Ashni Singh, regarding the current foreign exchange (FX) crisis. He claimed that during his years as a licensed cambio dealer, the national financial system relied on his liquidity to maintain stability.
- The “Midnight Call”: Mohamed alleged that authorities would often contact him for “a couple million US” to satisfy market demands the following day.
- $2 Billion Leakage: He estimated that roughly US$2 billion is currently “leaking” out of the formal banking system, blaming weak oversight and capital flight.
- Where is the Gold? Pointing to his own history of record-breaking gold declarations, Mohamed asked why current declarations have plummeted, implying that gold is being diverted away from the Guyana Gold Board into illegal channels.
Security: “Gunmen are Terrorizing Small Miners”
Drawing on his “lived experience” in the sector, the Opposition Leader warned that small-scale miners in the hinterland are being systematically targeted by armed gangs. He urged the government to move beyond rhetoric and implement a specialized security apparatus to protect the industry’s most vulnerable workers.
“I know the gold business very well,” Mohamed stated. “And the PPP benefited the most from my business.”
Context: The US Extradition and OFAC Sanctions
While Mohamed spoke with confidence from the opposition benches, the shadow of legal battles loomed large.
- US Indictment: Mohamed and his father, Nazar “Shell” Mohamed, are currently facing extradition proceedings to the United States on charges of wire fraud, mail fraud, and money laundering.
- Gold Smuggling Allegations: U.S. authorities allege the Mohameds smuggled roughly 10,000 kilograms of gold and defrauded Guyana of over $50 million in taxes—a charge Mohamed indirectly addressed by questioning the government’s current inability to secure high declarations.
- OFAC Sanctions: In June 2024, the Mohameds and their companies were sanctioned by the U.S. Treasury, effectively cutting them off from the international financial system.
A National Reckoning
Mohamed’s disclosures have sparked a national debate over the transparency of political financing in Guyana. By openly admitting to bankrolling the current administration, the Opposition Leader has forced a conversation on how close private interests operate to the heart of government and whether the current legal systems are capable of providing true state oversight.
