Ghana’s gold trading regulator, GoldBod, has arrested three Indian nationals suspected of operating a gold smuggling syndicate that has been taking tons of gold out of the country for over a decade.
The suspects, aged 35, 22, and 42, were apprehended at their residence in Kumasi, which investigators say had been converted into an unauthorized gold trading centre.
The suspects pleaded guilty at their arraignment and will remain in custody until a court hearing scheduled for May 12.
Authorities seized 4.363 kilograms of gold, counting machines, and other items from the suspects, who did not have residence permits, work authorizations, or tax payment records.
Ghana loses billions of dollars’ worth of gold every year due to smuggling, with much of it being exported to India, China, and the United Arab Emirates.
The government established GoldBod in March to streamline gold purchases and reduce smuggling.
