GEORGETOWN, Guyana – Vice President Bharrat Jagdeo says the Guyana government has severed all business ties with the Mohameds family businesses to shield the country’s s interest and prevent potential financial turmoil.
Vice President Bharrat Jagdeo, speaking at the weekly news conference“The government cannot do business with the Mohameds. It exposes us to the risks of sanctions, not because we are vindictive or we hate them, but they’re the ones who got sanctioned because of the investigation. These are the consequences of the sanction, but they want us to defy United States government sanction and risk the lives of all our people,” Jagdeo said.
Earlier this week, Georgetown explained why it granted no permission to the locally based, Hadi’s World, or any of its associates for the conduct of cabotage operations in the country.
Cabotage operations are when a foreign company transports goods or passengers between two locations in the same country. The term originated in shipping, but now applies to other modes of transportation, including aviation and road.
The Maritime Administration Department (MARAD) said that on June 11, 2024, the United States government, through the Department of Treasury’s Office of Foreign Assets Control (OFAC), announced sanctions against Nazar Mohamed and his son, Azruddin Mohamed, citing their involvement in large-scale tax evasion, gold smuggling, money laundering and other forms of public corruption in Guyana.
MARAD said that sanctions were also extended to Mohamed’s Enterprise, Hadi’s World, and Team Mohamed’s Racing Team, all of which are entities owned or controlled by the Mohameds.
Jagdeo, speaking at his weekly news conference, told reporters that the elder Mohamed believes that, ”falsely so” that the ruling People’s Progressive Party (PPP) “out of some perceived loyalty to him and Azruddin Mohamed,… because somehow, somewhere in the past, he played the marble with(former president) Cheddi Jagan”.
Jagdeo was responding to an earlier statement that Mohammed had always been close to the party and had assisted in bringing it to power in 1992.
“We could shut down the entire financial system if the Mohameds had continue owning a Cambio license. The banks cut all ties. Just imagine if they would continue allowing the Mohameds to do business with them – they could be subjected to US sanctions,” Jagdeo added.
Jagdeo also disputed claims by Azruddin Mohamed of corruption by the government in a meeting with rice farmers on the Essequibo coast, challenging him to address policy issues and that Jagdeo believed that Mohamed was more caught up with providing entertainment
“He crossed the line today, and he went after the Minister of Agriculture, the person who I know has been working in the sector day and night, day and night. Zulfikar has been working day and night to assist people,” Jagdeo added.
Jagdeo said that Mohamed in his statement did not address the US allegations of tax evasion after an extended investigation.
The Mohameds have raised the possibility of taking legal action against the Guyana government for preventing him from doing business with him and his companies.
