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Finance
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Guyanese President Rejects Hidden Asset Allegations, Cites Accuser's US Indictment

By
Diligence Posts Editorial Team

President Irfaan Ali of Guyana has denied allegations that he holds undeclared wealth, using a press conference this week to reject claims made by political rival Azruddin Mohamed. Ali used the same appearance to question the credibility of his accuser, pointing to Mohamed's ongoing legal disputes with authorities in the United States.

Speaking to reporters, Ali said every asset he owns has been declared to Guyana's Integrity Commission in accordance with the law, and that the paperwork behind these declarations was prepared by his accountant. He addressed specific claims about a property at the centre of the dispute, stating that the farm he owns covers just over 60 acres. This figure, he said, contradicts allegations circulating that he possesses a 150-acre ranch worth several million dollars. Ali also said the original loan he took out to acquire the property dates to 2012, and that he has met his statutory obligations relating to its financing since then.

The allegations against Ali originated with Azruddin Mohamed, who leads a political movement called We Invest in Nationhood. Ali accused Mohamed of inventing claims for political advantage, describing the episode as part of a broader pattern in which unverified narratives spread quickly through social media before facts can be established. The president argued that this dynamic has made it easier for politically motivated accusations to gain traction regardless of their accuracy.

Much of Ali's rebuttal centred on Mohamed's own legal standing. Mohamed and his father, Nazar, are currently fighting extradition to the United States, where they face serious criminal allegations. In June 2024, the US Treasury's Office of Foreign Assets Control imposed sanctions on the two men and several businesses linked to them. American authorities allege that between 2017 and 2024, the Mohameds smuggled more than 10,000 kilograms of gold into the United States using falsified customs documentation. Investigators say the scheme defrauded the Guyanese government of taxes and royalties totalling over US$50 million.

The case against the Mohameds developed over several years and drew in multiple US federal agencies, including the FBI, the Drug Enforcement Administration and the Department of Homeland Security. As part of the investigation, authorities seized a gold shipment valued at US$5.3 million in Miami, an operation that officials have cited as evidence of the scale of the alleged smuggling network.

The legal proceedings against the Mohameds have continued to move forward in recent weeks. The Caribbean Court of Justice dismissed their appeal against extradition, a ruling that allows the process requested by the United States to resume in Guyana's local courts. The decision represents a setback for the Mohameds as they attempt to avoid facing trial in the US, and it comes at a moment when Azruddin Mohamed's political credibility is already under scrutiny at home.

For Ali, the timing of the court's decision has proved useful. By linking the allegations against him to a rival who is himself the subject of a major international investigation, the president has sought to reframe the controversy as a question of who deserves to be believed rather than a straightforward dispute over property records. Whether that argument satisfies voters or independent observers remains to be seen, particularly as the Integrity Commission has not yet issued its own public findings on Ali's declarations.

What is clear is that the dispute has become entangled with a far larger legal case, one with international law enforcement implications that extend well beyond Guyana's borders. As extradition proceedings resume in Georgetown, the outcome of the Mohamed case may end up shaping the political fallout from these allegations as much as any answer Ali gives about the size of his farm.