Diamond Businessman Forfeits $10M in Land Fraud Case
June 14 2025
The High Court has ordered the forfeiture of ten million Guyana dollars (GY$10,000,000) from businessman Naitram Outar, also known as “Sweetman”, following a Special Organized Crime Unit (SOCU) investigation that uncovered his involvement in fraud, bribery, and money laundering connected to a land sale scheme.
The order, handed down by Justice Peter Hugh on Wednesday, June 4, 2025, directed that the funds—deemed proceeds of crime—be forfeited to the state and paid into the Consolidated Fund in accordance with Section 82 of the Anti-Money Laundering and Countering the Financing of Terrorism.
Outar, of Lot 242 Second Avenue, Block X, Diamond Housing Scheme, East Bank Demerara, came under scrutiny on July 15, 2024, when SOCU officers, accompanied by ranks of the Guyana Police Force, conducted a search of his property.
Though the search was originally for narcotics and other tainted property, investigators discovered GY$10 million in local currency for which Outar could not provide a credible explanation.
A money laundering probe was launched, and investigators later uncovered that in May 2024, Outar had conspired with another Georgetown-based businessman interested in purchasing two acres of land at Ogle for GY$50 million from persons linked to the Central Housing and Planning Authority (CHPA).
Outar allegedly brokered the deal for GY$40 million, while the remaining GY$10 million was intended as a kickback to facilitate the transaction.
The court found that the seized cash was directly linked to the illicit deal and ruled in favour of SOCU. The agency was represented by Attorney-at-Law and Prosecutor David Brathwaite.
As investigations continue into other individuals believed to be part of the broader scheme, SOCU has warned that the agency will continue to pursue all those who seek to exploit and corrupt the system.
