Police probe $83,000 Gold scam involving fake Ghana Gold Board agents
6th November 2025
Suspect Mohammed Ali
Police in Accra have launched an investigation into a suspected gold fraud syndicate operating under the name Jay & Sons Enterprise, which allegedly defrauded a Ghanaian-American businessman of $83,000 in a bogus gold transaction.
According to police sources, the group, which operated from Dzorwulu, Nii Noi Street near Yaakks Lodge, posed as accredited agents of the Ghana Gold Board (GGB) using forged documents, counterfeit identification cards, and fabricated official seals to lure unsuspecting investors.
The syndicate was reportedly led by Mohammed Ali, a fair-complexioned Burkinabe national who has since been arrested. Investigations revealed that Ali presented himself as an official partner of the recently established Ghana Gold Board, convincing the victim to make several payments purportedly covering customs duties, export levies, Ghana Revenue Authority (GRA) taxes, and Gold Board certification fees.
The businessman transferred $83,000 to the group for what he believed was a legitimate gold purchase and export process. However, after receiving the funds, the suspects disappeared without delivering the gold.
“After collecting the funds, the suspects went into hiding,” a police source told The Ghanaian Times.
The Nima Divisional Police Command has confirmed that a full-scale investigation is ongoing to track down the remaining members of the syndicate, identified by the aliases “Pepsi,” “Dollar,” and “Ben,” who are currently on the run.
In a statement, the Ghana Gold Board categorically denied authorising any private individual or company to operate on its behalf. The Board cautioned the public to verify all credentials directly with its offices before engaging in any gold-related transactions.
Meanwhile, the Police Service has urged businesspeople, particularly those involved in the gold trade, to remain vigilant and report any suspicious dealings involving supposed Gold Board representatives to the nearest police station.