still looking for "respect" in all the wrong places, eh?

how old are u again?

Govt. must explain $80M Ed Ahmad land deal – APNU

Government must explain the details surrounding a land deal with New-York based Guyanese, Edul Ahmad, who received a 17-acre plot of prime land at West Coast Demerara, but failed to build a wood processing plant as promised.

          Ed Ahmad

Instead, Ahmad, said to be a close associate of former President Bharrat Jagdeo, converted it  to house lots and is now set to make at least $600M from his $80M investment.

The Opposition is not taking the matter lightly, with the coalition, A Partnership for National Unity (APNU), demanding an entire review of the transaction. According to APNU Member of Parliament, Joseph Harmon, whenever state resources are allocated or sold for specific purposes to help create jobs, then any changes will require a different consideration. This will include a full assessment of that change, with considerations of the market value of the land.

In the case of the land sold to Ahmad, Harmon stressed that it was almost 17 acres of prime property at Leonora. “To convert this land from a wood processing plant project to create jobs to now selling house lots is concluding that the new owner is profiteering. We could have gotten more money if the true purpose was disclosed initially.”

The MP insisted that with Ahmad known as a “friend of the administration”, the transaction itself becomes even more questionable. “I believe that to make changes would be breaching the conditions of the lease or the sale of the land. Clearly, this is highly unacceptable, and speaks of how this Government and previous ones go about handling the assets and business of the people.”

The land in question was sold about five years ago to Ahmad through a local company, South American Woods Incorporated, in which his name appears as one of the directors. It was the understanding that the low cost of $80M for the land was because of the promise it was to be used for the establishment of the wood processing plant. The project, Leonora Mall and Hollywood Garden, is being managed by Leonora Projects which is owned by Shareef and Ed Ahmad.

The transaction was handled by the controversial National Industrial and Commercial Investments Ltd (NICIL), headed by Winston Brassington.

The land was once the managers’ compound of Leonora sugar estate which once fell under the control of the state-owned Guyana Sugar Corporation.

Around 2009, NICIL reportedly sold it to Ahmad for $80M or about $4.7M per acre. According to the company’s website, Leonora Projects is planning to construct 87 homes on the site. A house lot is now being sold for at least $7M.  This means that the $80 million plot of land is now worth more than $600M. The company is also building homes for at least $30M each. It is the plan to include a full gas and service station, facilities to house two banks and a huge shopping mall.

The Leonora projects are being run from Ahmad’s building materials depot at Ruimveldt, Georgetown. NICIL itself has been embroiled in a number of questionable transactions, including its privatization of the Sanata Complex in Ruimveldt, which was sold cheaply to Queens Atlantic, headed by former President Bharrat Jagdeo’s best friend, Dr. Ranjisinghi ‘Bobby’ Ramroop.

NICIL’s point man, Winston Brassington, is at the centre of a number of questionable deals including the Marriott Hotel and financial arrangements of the Berbice River Bridge.

Ahmad was charged by the US Federal authorities for his involvement in a massive real estate fraud scheme. In October 2012, during a plea deal in a New York court, he was found guilty of knowingly and intentionally conspiring to defraud several lending institutions over a period of 15 years.

Jalil and Mitwah stop messing up this thread.

This is the TRUE COLOR of APNU, PNC , KFC!!!!   These People were born to DESTROY!!!!!!!!!!!!!!

Nehru what are you saying here ?....I  have known  both Jalil and Mitwah for many years  and they are not AFC nor APNU members....if fact I know them as staunch followers of the late and great Cheddi Jagan.....

Chief I will ask them not to confuse you .....

Churchill, You totally misunderstand my comment. The Protestors are whom I am referring to. I dont care what Political Party one belong to. I am a registered Democrat but that is about it. And NO, I have not read " A West on Trial" 

Now I know why Albouystown is still the same as I remembered it when I was in Guyana. It's a crime heaven, and it is getting worst. A woman with missing dentures holding a piece of wood while the man is cutting it to demonstrate the cutting of the budget didn't impress me at all. It shows where APNU can fish out a few demonstrators for a photo op and don't give a damn about their living standard.

Maybe all of this might change, since I saw your hero Seelall walking through the area the other day shaking hands with the residents.

Then I suggest you read it....Basil Persaud's store on Liberty Ave has a few copies left.....

No other Police Commissioner have done what Seelall did recently in Albouystown. We need to support him in this regard and hope that he continues to have a good community relation with the police force.

Yiou promised me a copy many years ago.

Fair enough, but bear in mind that he's been around for quite some time as Crime Chief. What impact did he create in this capacity?

I will leave a copy off for you at Players next time I am in town.....which will be towards the end of the month when I come in to picket Ramouthar,,,,,

Correct vagain. Talk is CHEAP!!!   He needs RESULT!!!! Get the SWAT running to capacity, form an internal Unit to drive fear into CRIMINALS.  

We can say the same for Brummel. Seelall wasn't calling the shots before his time. Let's give him some slacks to do his job.

What?? Picket ABEE President.  GOD BLESS AMERICA

Is were Ramotar will be this month end to get threatened like that?

Churchy,

I was thinking about you. Please call me or let's get together wheb ever you are in the City.

I will stop by the store and pick up every copy  and then burn them!!