Billionaire entrepreneur and presidential candidate Azruddin Mohammed has been granted bail set at $500,000 following charges of tax evasion and fraudulent declarations linked to the purchase of a luxury vehicle in 2020. The acting Chief Magistrate Faith Mc Gusty issued the bail decision after Mr. Mohammed pleaded not guilty to the charges leveled by the Guyana Revenue Authority (GRA), amidst his ongoing sanctions by the U.S. government.
Represented by attorneys Damien Da Silva and Darren Wade, Mohammed received bail of $250,000 for each of the two charges. His legal team contends that the case lacks jurisdiction because the charges were filed beyond the six-month limitation period from the alleged offenses. Wade emphasized this point, arguing that the law categorically prevents these charges from standing.
Conversely, GRA attorney Sanjeev Datadin countered by stating that no limitation applies in this case since the GRA was unaware of any fraudulent activity. He cited the seven-year enforcement period under the Customs Tax Act.
According to charges, Mohammed is accused of submitting a false declaration for his luxury vehicle—claiming a purchase price of USD 75,300 instead of the actual $695,000, along with evading taxes exceeding $383 million.
While the legal arguments unfold, Da Silva maintains that his client’s actions have been legal and purportedly claims against the GRA will be addressed in court soon.
Source: newssourcegy.com
