Two men have been charged over the theft of $400m in gold which had been hidden away by a dealer in the precious metal.
A third suspect has been detained and $6m in cash retrieved.
The case will shine a further dim light on the gold trade that has seen widespread smuggling and a lack of declarations.
The police today said that on 2022-09-20 at about 13:20 hrs, Bhaloonauth Seegobin called ‘Krishna’, a 49 year-old Contractor of Lot 13 Farm, East Bank Demerara; and Satrohan Seegobin caled ‘Richie’, a 24-year-old Construction worker of Lot 13 Farm, East Bank Demerara were arrested and charged jointly for the offence of Simple Larceny to wit one thousand (1000) ounces of raw gold valued at $400M.
The charge was laid under Section 164 of the Criminal Law (Offences) Act Chapter 8:01.
The two accused appeared at the Cove & John Magistrate’s Court before Magistrate Fabayo Azore, where the charge was read to them.
Bhaloonauth Seegobin pleaded not guilty and was remanded to prison until 1st November, 2022 for report and statement at the Mahaica Magistrate Court.
Satrohan Seegobin pleaded guilty and was sentenced to four years imprisonment.
The police say that the victim is a female gold dealer and over the years, she accumulated the raw gold and concealed it at a location within the confines of her home.
The suspects were contracted by the victim to conduct repairs to her home and in the process of doing same, they found the gold and they divided up same amongst themselves and then they went on a spending spree.
Investigators were able to recover 3 motor vehicles: 2 cars and 1 canter, as well as a quantity of raw gold, police said.
Two subordinate officers stationed in Berbice are also in police custody assisting with the investigation.