Guyanese presidential hopeful Azruddin Mohamed granted bail on tax fraud charges

Prominent Guyana businessman and presidential candidate Azruddin Mohamed has been granted GYD $500,000 bail after pleading not guilty to two criminal charges related to alleged tax fraud and false declarations to the Guyana Revenue Authority (GRA).

Mohamed, a Guyanese billionaire entrepreneur and father of five, appeared before Acting Chief Magistrate Faith McGusty on Thursday. He was charged with making a false statement to the GRA on December 7, 2020, by undervaluing a Lamborghini reportedly purchased for US$695,000 but declared at just US$76,000. The second charge alleges tax evasion tied to the same undervaluation.

Represented by attorneys Siand Dhurjon, Damian Da Silva, and Darren Wade, Mohamed requested to be released on his own recognizance. His legal team cited his clean criminal record and public reputation. However, the court set bail at $250,000 for each charge. The matter will be heard again on June 26.

These criminal proceedings come on the heels of U.S. sanctions imposed in June 2024 by the Department of the Treasury’s Office of Foreign Assets Control. The sanctions targeted Mohamed, his brother Nazar, and their company, 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.

Despite the legal troubles, Azruddin Mohamed has formally declared his intention to run for president in Guyana’s September 2025 general and regional elections. In a campaign video, he unveiled his platform for “a new Guyana” focused on equality, unity, and good governance. He has welcomed international election observers to ensure democratic transparency.

Mohamed has criticized the current government for excessive spending while ordinary Guyanese struggle with rising living costs. “Eggs are too expensive for egg-fry and meat is too costly for pepperpot,” he remarked in one video message, calling for leadership that prioritizes the needs of all citizens.

His candidacy introduces a new chapter in Guyana’s political narrative, as the country undergoes swift transformation fueled by oil wealth. The 2025 elections are widely seen as pivotal for Guyana’s democratic and economic future.

If convicted, Mohamed could face fines ranging from GYD $10,000 to three times the value of the evaded taxes, and up to three years in prison.