Ghana Gold Board Leads Massive Crackdown on Illegal Gold traders

  


The Ghana Gold Board (GGB), in collaboration with National Security operatives, has arrested 25 individuals involved in illegal gold fabrication, trading, smuggling, and assaying activities across Accra.
The arrests followed weeks of intelligence-led surveillance and coordinated enforcement operations aimed at protecting Ghana’s gold resources and ensuring accountability in the mineral value chain.
Speaking at a press conference in Accra, the Deputy Chief Executive Officer of GoldBod, Mr. Richard Nunekpeku, commended the task force for the successful operation, stressing that the Board remains determined to eliminate illegal activities within the gold sector.
First Arrest: Illegal Refining at Dome Pillar 2

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The first operation led to the arrest of five individuals—four Indian nationals and one Ghanaian—accused of fabricating and trading gold without licenses. The suspects, identified as Bhaskar Jashu, Manog Mal, Susajit Senti, Sardar Prennath, and Victoria Minkah, were apprehended at a jewellery shop at Dome Pillar 2.
Recovered items included 26 pieces of GRA moissante emerald stones, 19 gold rings, several gold bars, and over GH¢22,000 in cash. Subsequent assays confirmed the seized bars to be genuine gold, valued at GH¢453,032.73.
The accused persons reportedly operated under the company name Mahalaxmi Ghana Limited, which was found to be unlicensed. Investigations are ongoing to trace the financial records and other business locations of the lead suspect, Bhaskar Jashu.
Second Arrest: Illegal Smelting and Smuggling at Achimota
In a separate operation on November 6, 2025, the task force raided the premises of Legend Precious Metal at Achimota-Akweteman, arresting 20 individuals, including both Ghanaians and foreign nationals from Belarus, the UK, the U.S., Argentina, Sweden, and Russia.
The suspects were found assaying and smelting gold without authorization. The team retrieved eight gold bars, various forged documents, and cash amounting to US$112,500 and GH¢64,014. Two of the accused, Clement Agbaglo and Emmanuel McAddy, were also found with sidearms.
Investigations revealed that the company had been trading gold through neighboring Togo and was allegedly running a fraudulent scheme targeting unsuspecting investors.
Gold Board’s Warning
Mr. Nunekpeku reaffirmed GGB’s commitment to promoting transparency and compliance in Ghana’s gold industry, warning that gold smuggling undermines national revenue and threatens the credibility of the country’s gold reserves.
He urged all dealers and exporters to verify the licensing status of companies on the official website — www.goldbod.gov.gh — and transact only with authorized entities.
“The Ghana Gold Board remains resolute in its mission to safeguard Ghana’s gold wealth for the collective benefit of all citizens,” Mr. Nunekpeku emphasized.

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