Distinguished Guyana businessman and presidential candidate Azruddin Mohamed has been granted GYD $500,000 bail after pleading not responsible to 2 legal fees associated to alleged tax fraud and false declarations to the Guyana Income Authority (GRA).
Mohamed, a Guyanese billionaire entrepreneur and father of 5, appeared earlier than Appearing Chief Justice of the Peace Religion McGusty on Thursday. He was charged with making a false assertion to the GRA on December 7, 2020, by undervaluing a Lamborghini reportedly bought for US$695,000 however declared at simply US$76,000. The second cost alleges tax evasion tied to the identical undervaluation.
Represented by attorneys Siand Dhurjon, Damian Da Silva, and Darren Wade, Mohamed requested to be launched on his personal recognizance. His authorized workforce cited his clear legal document and public fame. Nonetheless, the courtroom set bail at $250,000 for every cost. The matter will probably be heard once more on June 26.
These legal proceedings come on the heels of U.S. sanctions imposed in June 2024 by the Division of the Treasury’s Workplace of International Belongings Management. The sanctions focused Mohamed, his brother Nazar, and their firm, Mohamed’s Enterprise, citing alleged corruption and tax evasion involving over 10,000 kilograms of underreported gold and an estimated US$50 million in unpaid taxes.
Regardless of the authorized troubles, Azruddin Mohamed has formally declared his intention to run for president in Guyana’s September 2025 general and regional elections. In a marketing campaign video, he unveiled his platform for “a brand new Guyana” centered on equality, unity, and good governance. He has welcomed worldwide election observers to make sure democratic transparency.
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Mohamed has criticized the present authorities for extreme spending whereas odd Guyanese wrestle with rising residing prices. “Eggs are too costly for egg-fry and meat is simply too pricey for pepperpot,” he remarked in a single video message, calling for management that prioritizes the wants of all residents.
His candidacy introduces a brand new chapter in Guyana’s political narrative, because the nation undergoes swift transformation fueled by oil wealth. The 2025 elections are extensively seen as pivotal for Guyana’s democratic and financial future.
If convicted, Mohamed may face fines starting from GYD $10,000 to a few occasions the worth of the evaded taxes, and as much as three years in jail.
