SOCU forfeited $10M from businessman involved in ‘kickback’ for sale of land

On Wednesday, High Court Judge Justice Peter Hugh ordered the forfeiture of $10 million from businessman Naitram Outar for his involvement in fraud, bribery, and money laundering.

The court directed the Special Organized Crime Unit (SOCU) to forfeit the sum of $10 million from Naitram Outar, also known as ‘Sweetman’, of Lot 242 Second Avenue Block X Diamond Housing Scheme, East Bank Demerara, on the basis that the currency was tainted property and the proceeds of crime.

The Court further ordered that the currency be paid into the Consolidated Fund pursuant to Section 82 of the Anti-Money Laundering and Countering the Financing of Terrorism Act, Cap. 10:11.

The circumstances surrounding the confiscation of the tainted currency are:

On Monday, July 15, 2024 at about 14:00h, officers of the Special Organized Crime Unit (SOCU) along with other members of the Guyana Police Force (GPF) searched the property of businessman Naitram Outar located in Diamond, East Bank Demerara, for narcotics and other tainted property.

However, Guyana currency totalling $10 million was found, seized, and detained by the Special Organized Crime Unit (SOCU) after he could not have given a satisfactory account of same.

A money laundering investigation was immediately launched. During the course of the investigation, it was revealed that in May 2024, Outar conspired with another city businessman who was interested in purchasing two (2) acres of land at Ogle for $50 million from persons associated with the Central Housing and Planning Authority (CHPA).

Outar was tasked with “setting up the arrangement” at the sum of $40 million and the remaining $10 million was to be paid as a kickback for the transaction.

As SOCU’S investigations continue against others allegedly involved in this massive corruption scheme the Head of SOCU, Deputy Commissioner Fazil Karimbaksh is giving a stern warning to persons who are bent on trying to corrupt the system to stop this illicit activity as the long arm of the law will surely catch up with them and they will not be able to escape SOCU’S dragnet leading to them eventually being prosecuted.

The Court ruled in favour of SOCU and ordered the confiscation of the currency. SOCU was represented by Attorney-at-Law and Prosecutor David Brathwaite.