Presidential hopeful and US-sanctioned businessman, Azruddin Mohamed was placed on $500,000 bail by acting Chief Magistrate Faith McGusty for two tax evasion charges brought by the Guyana Revenue Authority (GRA).
The first charge read that on or about December 7, 2020, at Lot 201 Camp Street, he caused and subscribed to a false declaration to the Guyana Revenue Authority regarding a 2020 Lamborghini Aventador SVJ Roadster. It is alleged that the amount submitted to GRA was US$75,300 instead of the true purchase price of US$695,000.
The second charge alleged that at the aforementioned date and address, Mohamed’s actions resulted in GRA being denied GY$383,383,345 in customs duties.
Mohamed pleaded not guilty to both charges which were read to him today. His lawyers included Damien Dasilva, Darren Wade and Siand Dhurjon. In outlining an application for bail, Dasilva said Mohamed, a 39 year-old father of five, lives at Lot 17 Houston Estates. The lawyer noted that Mohamed is a businessman and a well known philanthropist who has no prior convictions or pending matters.
Dasilva said the vehicle in question was “duly imported, duly cleared, duly entered, and duly registered… all to the satisfaction of the Guyana Revenue Authority at that time.”
The lawyer said it was only in March of this year that his client received a correspondence from GRA, notifying him that an investigation was launched because he allegedly under-declared the value of the vehicle. He was then demanded to pay additional taxes or the vehicles would be seized and he would face legal proceedings.
Dasilva said Mohamed’s lawyers requested that GRA provide evidence to support its claim but none was provided, hence a civil lawsuit was filed against the agency in the High Court.
With a lawsuit pending against GRA and the announcement by Mohamed to contest the elections as a presidential candidate, Dasilva stressed that his client is not a flight risk. He therefore asked for Mohamed to be released on his own recognizance.
Counsel for GRA, Sanjeev Datadin said Dasilva conveniently omitted that in the letter sent to Mohamed, the tax agency indicated that there would be a reassessment of the value of the vehicle, which it is entitled to do by law. Datadin said Mohamed was given 14 days to respond but chose instead to approach the High Court.
Regarding bail, Datadin asked that it be at least 10 percent of the taxes owed to GRA.
Magistrate McGusty did not agree with setting bail at an exorbitant sum or being lenient to let Mohamed leave on his own recognizance. Bail was then granted at $250,000 for each of the two charges. The magistrate made no order against Mohamed leaving the jurisdiction.
The matter will be heard again on June 26 at 9 am for written submissions.
