Vice President Dr Bharrat Jagdeo has doubled down on warnings as yet another local bank (Citizens Bank) has severed ties with individuals connected to the We Invest In Nationhood (WIN) political outfit, headed by US‑sanctioned businessman Azruddin Mohamed.
Addressing reporters on Thursday, Dr Jagdeo, who also serves as the People’s Progressive Party’s (PPP) general secretary, said the actions by banks come as no surprise.
“We have been warning people,” he stated at his weekly press conference at Freedom House in Georgetown.
“The OFAC sanction was very clear. It says financial institutions cannot deal with this man, or they risk being sanctioned by the US and losing corresponding banking relationships. It even warns that ordinary people who continue to do business with him can face law enforcement action,” he added.
He slammed the political outfit for campaigning on false political victimisation claims, all while deliberately ignoring the serious allegations levelled against him.
“They have a clever campaign. Oh, we’re going to get the sanctions lifted. How? he questioned.
On June 11, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Nazar Mohamed, his son Azruddin, their company, Mohamed’s Enterprise, and government official Mae Thomas, citing allegations of public corruption.
According to OFAC, between 2019 and 2023, Mohamed’s Enterprise under‑declared more than 10,000 kilograms of gold, evading over US$50 million in duties and taxes.
Following the sanctions, the Bank of Guyana revoked the Mohameds’ cambio and gold trading licences. Since then, Demerara Bank Limited, GBTI, and now Citizens Bank have all shut down accounts linked to individuals associated with the family.
These include WIN’s General Secretary Odessa Primus and Natasha-Singh Lewis, among others, who have their names on the party’s List of Candidates for the upcoming General and regional elections.
Primus is also among several individuals who have had their visas revoked for their close association with Azzurdin Mohamed.
OFAC has warned that “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 enforcement action.”
