Rawle Ferguson of Hits and Jams was among five persons arrested in connection with a multimillion-dollar land scam.
Crime Chief Wendell Blanhum confirmed the arrest but said Ferguson and a second person were released on substantial bail while the other three are in police custody.
Deputy Commissioner Blanhum said the file has been sent to the Police Legal Advisor for advice on how to proceed with the matter.
Reports are that the matter involves a piece of land along the Heroes Highway and $58 million.
Ferguson, according to the Crime Chief, was arrested after it was alleged that he collected $10 million to secure an Acknowledgement letter from the Housing Ministry. The letter was said to be bogus.
Persons seeking commercial lands are expected to submit a letter of interest to the Ministry of Housing as the first step in the process.
The transaction which occurred last year reportedly involved a Smyth Street businessman. The businessman, according to reports, sought to get a refund after the deal fell through but was not successful as such the matter was reported to the police. This newscast understands that Ferguson has agreed to repay the monies collected.
Transparency International in its 2024 report flagged Guyana for misappropriation of resources. The report said Guyana, a state captured by economic and political elites, fosters misappropriation of resources, illicit enrichment, and environment crimes. The international body went on to say that while Guyana has created anti-corruption institutions and laws, transparency and law enforcement are very low and attacks on dissenting voices, activists and journalists are increasingly common.