June 11, 2024
WASHINGTON —The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed significant sanctions on prominent Guyanese figures Nazar Mohamed, his son Azruddin Mohamed, their company Mohamed’s Enterprise, and government official Mae Thomas. These sanctions target public corruption in Guyana and have immediate and far-reaching consequences.
The immediate consequence of these sanctions is the freezing of all property and interests in property of the designated individuals and entities in the United States or under the control of U.S. persons. These assets must be reported to OFAC. Additionally, any entity that is 50 percent or more owned by one or more blocked persons is also subject to these restrictions.
Unless specifically authorized by OFAC, U.S. persons are generally prohibited from engaging in transactions involving the property or interests of the designated persons. This includes contributions or the provision of funds, goods, or services either to or from these individuals and entities. Financial institutions and other entities that conduct transactions with the sanctioned parties may also expose themselves to enforcement actions.
The sanctions also extend to two other entities, Hadi’s World and Team Mohamed’s Racing Team, which are owned or controlled by Mohamed’s Enterprise and Azruddin Mohamed, respectively. These actions fall under Executive Order (E.O.) 13818, which enforces the Global Magnitsky Human Rights Accountability Act, targeting individuals and entities involved in serious human rights abuses and corruption worldwide.
The power and integrity of OFAC sanctions lie not only in the ability to designate and add individuals to the Specially Designated Nationals (SDN) List but also in the potential to remove them, provided there is compliance with the law. The ultimate objective of these sanctions is not punitive but to incentivize positive behavioral changes.
Individuals and entities seeking removal from the OFAC sanctions list must follow the procedures outlined in OFAC’s Frequently Asked Question 897. Detailed information on the removal request process is available on the OFAC website.
These sanctions against Nazar Mohamed, Azruddin Mohamed, Mae Thomas, and their associated entities signal a robust stance by the U.S. government against corruption. The Guyanese community is paying rapt attention to announcements about the additional government officials who are involved in massive corruption in Guyana. The United States is sending a clear message, corruption and human rights abuses will not go unchecked, and the perpetrators will face significant consequences.
