Police release clearer video on alleged forex trading at Mohamed’s building but Azruddin continues denial

Last Updated on Thursday, 12 February 2026, 21:56 by Writer

Despite the Guyana Police Force releasing clearer video showing what seems to be foreign exchange trading at the Mohamed’s building on Lombard Street, Georgetown, city businessman Azruddin Mohamed on Thursday again denied that such business was being carried on there.

In the latest video released by the Guyana Police Force and dated February 11, someone entered the building and went to a cashier cage. The cashier receives what appears to be US dollars while the other person says “yeh 3”. The cashier then counts what appears to be Guyana currency notes and says 67,500 while handing them over to the person.

It appears as though all of the persons in the videos who went to apparently sell foreign currency there were all wired with cameras as the videos show them entering, transacting business and leaving the premises.

Contacted to ascertain whether he was still maintaining his Wednesday overnight position that no currency trading was being conducted there, Mr Mohamed said he was still doing so. “Yes, I stand on (sic) what I told you last night,” said Mr Mohamed who is also leader of the main opposition We Invest in Nationhood (WIN) and Leader of the Opposition.

He said the matter would have to engage the court and so his lawyer would address those matters.

He said police would by Friday decide whether or not anyone would be charged.

Eight persons, who were arrested on Wednesday, have since been released, Mr Mohamed said.

Several boxes of documents were carted off by agents of the Special Organised Crime Unit (SOCU) of the Guyana Police Force.

“During the course of the operation, officers uncovered evidence of illegal financial operations and additional materials believed to be connected to unlawful activities were recovered at the location. All items seized are currently subject to active forensic and financial investigation,” SOCU said in a statement on Wednesday.

SOCU said Wednesday’s search was conducted based on credible information that the cambio was operating even though the license was revoked. “Essentially, this information led the law enforcement agencies to conduct operations which proved that the information of continued cambio services without the required license was credible,” that police unit said.

Mohamed’s Enterprises foreign exchange dealer’s licence was revoked shortly after the United States Department of Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on Azruddin Mohamed and his father, Nazar “Shell” Mohamed for alleged gold smuggling and related tax evasion from the Guyana government.

A US grand jury subsequently indicted them in October 2025 and the US government has since requested their extradition to face trial in a Florida federal court for alleged wire fraud, mail fraud and money laundering.

The Mohameds are contending that they are being politically persecuted because they are now opponents to the governing People’s Progressive Party (PPP).

Mr Mohamed said the less than GY$2 million that was seized yesterday was used to donate monies to the less fortunate.