High Court judge Peter Hugh on Wednesday ordered the forfeiture of $10 million from businessman Naitram Outar for his role in fraud, bribery, and money laundering.
Justice Hugh ruled that the cash, which was seized from Outar’s residence in Diamond, East Bank Demerara, was tainted property and the proceeds of crime. The funds are to be paid into the Consolidated Fund in accordance with Section 82 of the Anti-Money Laundering and Countering the Financing of Terrorism Act.
The Special Organised Crime Unit (SOCU), which led the investigation, discovered the money during a July 15, 2024 search of Outar’s home, initially conducted in relation to narcotics and other tainted property. According to authorities, Outar was unable to provide a satisfactory explanation for the source of the funds.
Investigators later determined that Outar had conspired with another city businessman in May 2024 to facilitate the sale of two acres of land at Ogle for $50 million. Outar was allegedly responsible for arranging the transaction through contacts at the Central Housing and Planning Authority, with $40 million allocated for the land and $10 million intended as a kickback.
SOCU’s investigation into the wider scheme is ongoing. Deputy Commissioner Fazil Karimbaksh, head of the unit, warned that individuals seeking to corrupt public systems will be pursued and prosecuted.
SOCU was represented in court by Attorney-at-Law and prosecutor David Brathwaite.
