High Court Judge Justice Peter Hugh has ordered the forfeiture of $10 million from businessman Naitram Outar, also known as “Sweetman,” after ruling that the funds were the proceeds of crime linked to fraud, bribery, and money laundering.
The confiscation order, handed down this week, directs that the tainted money be paid into the Consolidated Fund under Section 82 of the Anti-Money Laundering and Countering the Financing of Terrorism Act, Cap. 10:11.
According to a release from the Guyana Police Force’s Special Organised Crime Unit (SOCU), the sum was seized during a search of Outar’s residence at Lot 242 Second Avenue, Block X Diamond Housing Scheme, East Bank Demerara (EBD), on July 15, 2024.
SOCU officers, accompanied by other ranks of the Police Force, were initially searching for narcotics and tainted property, but instead found a large sum of local currency.
Outar, police say, failed to provide a satisfactory explanation for the cash, prompting the launch of a money laundering investigation. Probes revealed that Outar had conspired with another city businessman to facilitate the illicit purchase of two acres of land at Ogle, East Coast Demerara (ECD), for $50 million. The deal allegedly involved individuals linked to the Central Housing and Planning Authority (CHPA).
Outar was reportedly tasked with arranging the transaction for $40 million, with the remaining $10 million intended as a kickback payment.
SOCU confirmed that the court ruled in its favour, declaring the cash to be proceeds of crime. Attorney-at-Law and prosecutor David Brathwaite represented the unit.
As the investigation into the wider alleged corruption ring continues, Head of SOCU, Deputy Commissioner Fazil Karimbaksh, issued a stern warning to individuals attempting to undermine public institutions through bribery.
“The long arm of the law will surely catch up with them,” Karimbaksh stated, “and they will not escape SOCU’s dragnet.”
