25 arrested over major illegal gold smuggling

The Ghana GoldBod, in collaboration with the National Security Task Force, has uncovered a sprawling illegal gold trading and smuggling network operating in Accra, leading to the arrest of 25 individuals — including foreign nationals from India, Europe, and the Americas — involved in unlawful gold fabrication, assaying, and export.

This operation, which the GoldBod described as part of an intensified nationwide clampdown on illicit gold trading, follows several weeks of coordinated intelligence-led surveillance aimed at protecting the mineral wealth and enforcing compliance within the gold value chain.

According to the GoldBod, the arrests were made in two separate operations between November 5 and 6, 2025, at Dome Pillar 2 and Achimota-Akweteman in the Greater Accra Region.

The suspects, including business executives, gold dealers, and artisans, are alleged to have engaged in refining, fabricating, and smuggling gold without licenses — acts that breach both the Criminal Offenses Act, 1960 (Act 29) and the Gold Board Act, 2025 (Act 1140).

First Arrest: Indian Nationals and Ghanaian Accomplice Nabbed at Dome

In the first major operation, five individuals — four Indians and one Ghanaian — were arrested at a jewellery shop at Dome Pillar 2.
The suspects have been identified as Bhaskar Jashu, Manog Mal, Susajit Senti, Sardar Prennath, and Victoria Minkah.

Intelligence reports suggested that the suspects were refining gold without authorization. Acting on this tip-off, a joint GoldBod and National Security team raided the premises around 4:19 p.m. on November 5, 2025.

The team apprehended the suspects and seized several exhibits, including 26 pieces of GRA moissante emerald stones, 19 rings suspected to be gold, six pieces of 10-karat yellowish metals, multiple mobile phones, CCTV equipment, and a locked metallic safe.

During interrogation, the suspects admitted to working for Bhaskar Jashu, the owner of Mahalaxmi Ghana Limited. Jashu, who later turned himself in, opened the safe voluntarily. It contained GH₵22,670, numerous gold ornaments, and three gold bars later confirmed by assay tests to be genuine, with a market value of GH₵453,032.73.

Investigations are ongoing to trace Jashu’s secondary business locations and financial records, which authorities believe may expose a wider illegal gold operation.

Second Arrest: Multi-National Gold Syndicate Busted at Achimota

A day later, on November 6, 2025, GoldBod’s intelligence unit, supported by National Security operatives, raided the premises of Legend Precious Metal, located at Achimota-Akweteman. The facility was found to be engaged in large-scale illegal gold trading and smuggling operations.

Eighteen individuals — including foreign nationals and Ghanaian collaborators — were arrested. Seized from the site were eight metal bars suspected to be gold, GH₵64,014, US$112,500, and multiple assaying reports, receipts, and gold trading agreements.

Further searches revealed the suspects had been conducting unauthorized gold smelting and assaying activities at the facility. Some of the gold was allegedly being transported across the border into Togo as part of a smuggling scheme.

Two of the suspects, identified as Clement Agbaglo and Emmanuel McAddy, were found in possession of unlicensed firearms.

The accused persons include Gabriel Sewornu, CEO of Legend Precious Metal; Lucia Al Yaziji, a former Belarusian diplomat and lawyer; Duncan Finlay Macinnes, a British investment banker; Erik Manuel Belloran, an American ex-serviceman; Demian Perrone, an Argentine national; Domenic Vasiljkovic and Panagiotis Jordanidis, both Swedish nationals; and Alex Ivanov, a Russian.

Others, all Ghanaians, are Emmanuel McAddy, Kwesi Opare, Gilbert Nordzro, Magdalene Etwude Yeboah, Charles Ohemeng, Francis Atta, Michael Narh, Steve Hanson, Clement Agbaglo, Haruna Adams, Jerry Nananu Gli, and Chris Atsitsogbe.

According to preliminary findings, Legend Precious Metal had no operating license from the Ghana Gold Board. Investigators also discovered that the company’s top executives had engaged in fraudulent transactions, deceiving unsuspecting investors through fake gold trading deals.