The Guyana Government doing business with US-sanctioned Mohammeds could jeopardise the country’s financial system, says the country’s Vice-President, Bharrat Jagdeo.
The VP said that contrary to what is being peddled on social media, the government is not targeting Nazar “Shell” Mohamed and his son Azuriddin. In fact, he noted that it is in the government’s and everyone’s best interest to keep the family at arms-length.
Jagdeo also noted that the elder Mohamed was “misrepresenting” the facts when he said that the sanctions do not apply to doing business in Guyana and with local businesses. The VP cited the report issued by the US government which he said, nullifies Mohamed’s position.
Indeed, the report states, among other things:
“Financial institutions and other persons that engage in certain transactions or activities with the sanctioned entities and individuals may expose themselves to sanctions or be subject to an enforcement action. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated person, or the receipt of any contribution or provision of funds, goods, or services from any such person.”
Azuriddin Mohamed, who is known for his philanthropic work, could expose those who receive assistance, to sanctions, Jagdeo said.
Nazar Mohamed also claimed that his cambio licence was taken away from him without a hearing, deeming it unfair and his business a supposed victim of the government’s excesses.
But Jagdeo scoffed at this notion, saying that granting the Mohameds back their licence would harm the financial institutions that absorb those monies, thereby affecting the entire system.
“We’re not being vindictive or hate them [Mohameds]…but we will not risk the lives and livelihoods of our people,” the VP said.
Last June, Mohamed, his son Azruddin Mohamed, along with a high-ranking government official, Permanent Secretary, Mae Thomas, were officially sanctioned by the U.S. Department of the Treasury. A report, with preliminary findings were released detailing corruption and massive kickbacks.
