Ghanaian authorities have arrested three Indian nationals accused of running a gold smuggling operation that has reportedly been smuggling large quantities of gold out of the country for over a decade. The suspects, aged 35, 22, and 42, were detained in Kumasi, where they had allegedly set up an unauthorized gold trading center.
At their arraignment, the trio pleaded guilty and will remain in custody until their court hearing on May 12. They were found with 1.9 million cedis ($134,000), 4,500 rupees ($53), 4.363 kilograms of gold, two counting machines, a CCTV recorder, and an Indian passport. Authorities say they had no valid residence permits, work authorizations, or tax records related to their activities.
Gold smuggling has caused significant financial losses for Ghana, which, along with other African nations, is estimated to lose billions of dollars annually due to illegal gold exports. To combat this, Ghana created GoldBod, a regulatory body aimed at regulating gold purchases and reducing smuggling. The new system restricts gold sales to foreign companies, ensuring they buy from GoldBod directly.
Much of the smuggled gold is believed to be sent to India, China, and the UAE.