The Guyana Police Force has escalated its investigation into alleged illegal foreign exchange operations by releasing enhanced surveillance footage from Mohamed’s Enterprises’ Lombard Street premises. The newly unveiled video, timestamped January 11, 2026, depicts individuals engaging in transactions at a cashier cage where U.S. dollars appear to be exchanged for Guyanese currency, with audible references to specific amounts during the process.
Despite this visual evidence, prominent businessman and opposition leader Azruddin Mohamed persists in denying any illicit currency trading activities at the location. When confronted with the police evidence, Mohamed reaffirmed his previous statements, asserting that his legal team would address the matter through judicial channels. Law enforcement authorities are expected to determine whether to pursue criminal charges by Friday.
The investigation intensified on Wednesday when the Special Organised Crime Unit (SOCU) conducted a comprehensive search operation, resulting in the temporary detention of eight individuals and the seizure of multiple document containers. SOCU officials confirmed discovering evidence suggestive of unauthorized financial operations, with all confiscated materials undergoing rigorous forensic and financial analysis.
This enforcement action follows the revocation of Mohamed’s Enterprises’ foreign exchange license, which occurred shortly after the U.S. Department of Treasury’s Office of Foreign Assets Control imposed sanctions on Azruddin Mohamed and his father Nazar “Shell” Mohamed. The sanctions stem from allegations of gold smuggling and tax evasion practices that allegedly deprived the Guyanese government of substantial revenue. Subsequently, a U.S. Grand Jury indicted both individuals in October 2025 on charges including wire fraud, mail fraud, and money laundering, with American authorities currently seeking their extradition to face trial in Florida.
The Mohamed family contends that these legal actions constitute political persecution motivated by their opposition to the ruling People’s Progressive Party. Azruddin Mohamed additionally claimed that approximately GY$2 million seized during the recent operation was designated for charitable distributions to disadvantaged communities.