PPP associate ensnared in New York straw mortgage deals; being electronically monitored
Written by Denis Scott Chabrol
Monday, 25 July 2011 13:26

New York-based Guyanese realtor, Edul Ahmad,who is closely associated with the governing Peoples Progressive Party (PPP), is on US$2.5 million bond and his movements are being electronically monitored, pending his trial for alleged mortgage fraud. “Electronic monitoring will cease after necessary affidavits of confession of judgment are filed,” state court documents seen by Demerara Waves Online News (www.demwaves.com).

Officials in New York told Demerara Waves on condition of anonymity that Ahmad was booked and checked-in to board a Guyana-bound Delta Airlines flight Thursday night but was later un-checked. Ahmad also has to surrender any and all passports to US Pre Trial Services Agency (PTSA). He has been also placed under the direct supervision of the PTSA which could randomly check on him at his home or work. Ahmad also has to report to that agency as directed.

Ahmad is said to be very close confidante of a government minister and the suspect is listed by a New York newspaper as a friend of President Bharrat Jagdeo. He has also opened a hardware store the Industrial Site premises of the Mirror newspaper, a publication closely aligned to the PPP, and sold a large tract of land at Leonora that once belonged to the Guyana Sugar Corporation. In an unrelated matter, Ahmad's name has been called in loanig hefty sums of cash to Democratic New York congressman, Gregory Meeks that the politician had not initially declared.

The Federal Bureau of Investigations (FBI) alleges that between January and July, 2007, Ahmad and others knowingly and intentionally conspired to execute an artificial scheme to defraud Countrywide Home Loans. Investigators said the defendant tried to obtain monies, funds, credit, assets, securities or other properties owned by the financial institutions by false and fraudulent pretenses, representations and promises. The FBI’s Special Agent, Bryan J. Trebelhorn states in court documents filed with the United States DistrictCourt, Eastern District of New York that Ahmad, who has been operating both mortgage brokerage and a catering businesses, conspired to obtain mortgage loans from lenders through fraudulent means. “During 2007 alone, Ahmad participated in the preparation of approximately 163 mortgage loan applications to Countrywide Home Loans for which Countrywide has suffered losses,” Trebelhorn states.

In one instance, according to the FBI special agent, Ahmad between January and July 2007 allegedly conspired with two straw-buyers to fraudulently obtain mortgage loans of US$417,000 for a property in South Ozone Park and another loan of US$292,500 for a property in Jamaica, New York by allegedly using fake credit information. As it relates to the South Ozone Park property, the mortgage application states that one of the straw buyer earned US$9,850 monthly as an executive chef at the catering service and intended to occupy the property as a primary residence. “Notably, the mortgage application lists a variation of the defendant Edul Ahmad’s name (A. Edul)” as one of the straw-buyer’s landlord. The court document states that one of the straw buyers is Ahmad’s wife and they together lived at another residence and never intended to live at the South Ozone property. Investigators are also found out that while the first straw buyer was never employed as a chef or in any other capacity at the catering business.

With regards to the Jamaica, New York property, a second straw buyer stated on mortgage loan application that he/she earned US$6,650 monthly as a catering manager where the person had purportedly worked since November 2002. However, the FBI agent said straw buyer 2 never worked at the catering business but rather was employed as a real estate agent at the real estate business and never intended to occupy the Jamaica property as a primary residence. Straw buyer 2 stated, according to the FBI agent, that he/she had purchased the Jamaica property together with Ahmad and Ahmad had paid for the transaction. The straw buyer allegedly confessed to purchasing multiple properties for Ahmad.

Source

Ed have a Black Angel[Sen,Sam???] looking over him,seen the movie Good,Bad And Ugly---Lee Van Cliff said there is a Blonde Angel[Clint]looking over Ugly[elli wallace]when he was about to be Hanged.Ed created so much wealth and Housing for Residents of Queens and those who sold with Equity in abundance and migrated to Florida.He is worth over 250 Million US.some of the Rats who are getting close to Bharrat recently are jealous and are running their mouth.They are doing some medical voluntary work,one of them is jealous that the village he is from[Lenora]Bharrat gave Ed ???acres of land.INNOCENT UNTIL PROVEN GUILTY.

In one instance, according to the FBI special agent, Ahmad between January and July 2007 allegedly conspired with two straw-buyers to fraudulently obtain mortgage loans of US$417,000 for a property in South Ozone Park and another loan of US$292,500 for a property in Jamaica, New York by allegedly using fake credit information.

Inside joke.

quote:

Officials in New York told Demerara Waves on condition of anonymity that Ahmad was booked and checked-in to board a Guyana-bound Delta Airlines flight Thursday night but was later un-checked.

Trying to flee.

He who did not sin cast the first stone,get yurselves a blank piece of paper.on one side write the good and the other side write the bad that Ed did.Compare them and see what you come up with,most of all id you him that well post your results.do not go by hear say and speculations.WONDER AND PONDER.

quote:

Originally posted by creative:
He is worth over 250 Million US.

this is relevant how? that money is STOLEN money, gotten through fraud, crime and corruption.

Guyana ruling party says not financed by suspected New York fraudster; lambastes Demerara Waves
Written by Denis Scott Chabrol
Monday, 25 July 2011 17:23


The Peoples Progressive Party (PPP) on Monday said that Edul Ahmad- the New York based realtor who is now on a U$2.5 million bond in connection with mortgage fraud- has not poured money into it. “The PPP wishes to make it absolutely clear that Ahmad has not made any financial contributions to the PPP/C’s 2011 political campaign nor can he be considered in any way part of the PPP structure or the PPP/C Government,” the party said in a statement. The party deemed as “nasty attempts” efforts to link Ahmad’s activities with the PPP or to suggest that he is a financier of the PPP as “nothing but absolute lies”

The PPP did not distance itself from Ahmad, deny a report by a New York newspaper that he is as a friend of President Bharrat Jagdeo, he owns a hardware store at the Industrial Site location that for decades housed the PPP-aligned Mirror newspaper and bought a large tract of land at Leonora that had once belonged to the Guyana Sugar Corporation (GuySuco).

Reacting to a story earlier Monday titled “ PPP associate ensnared in New York straw mortgage deals; being electronically monitored”, the party lambasted Demerara Waves Online News (www.demwaves.com), saying that it has joined the ranks of hostile and pro-opposition media. Listing Demerara Waves among Kaieteur News and Stabroek News, the PPP accused this online news site of attacking the government and ruling party. “The People’s Progressive Party has once again noticed that the Demerara Waves website has now openly joined ranks with the pro-opposition media in their continuing onslaught against the PPP and PPP/C Government by spreading falsehoods and misinformation,” the party said in a statement.


Ed Ahmad

Ahmad Thursday night checked in to a Guyana–bound Delta Airlines flight in New York but he was later “un-checked” and did not board the flight. He was subsequently placed on a US$2.5 million bond and is being electronically monitored. “The attempts by the Demerara Waves to portray itself as balanced has been dislodged by this latest piece of mischievous reporting. The party observed that Demerara Waves at the weekend covered two rallies by the Peoples National Congress Reform (PNCR)- A Partnership for National Unity (APNU), saying that those “served to confirm its bias and lack of objectivity. “This so called News Service has just joined the fold of unethical internet blogs as confirmed by its unprofessional and unethical piece of journalism today,” the party added.

Source

The man will walk out of these alligations,he was once the most well dressed man by India Desai Association.Some of you Guys are JEALOUS.

quote:

Originally posted by creative:
The man will walk out of these alligations,he was once the most well dressed man by India Desai Association.Some of you Guys are JEALOUS.

like you is Ed battie bwoy

quote:

Originally posted by creative:
The man will walk out of these alligations,he was once the most well dressed man by India Desai Association.Some of you Guys are JEALOUS.

This will come to trial next summer. He is going to spend a considerable amount of time in the pen plus required to pay hefty fines. Too many of the other crooks cutting deals and he is a fat target.

raymond i canot blame you for thinking within the box,you think like a kindergarden kid.Twenty five years ago if i told someone of this advance super highway,example we would be walking around with our cell phones and connecting with internet etc.they would doubt me.He did not get part of Lenora without $$$$$,taking the American Dream SCHEME in Guyana would definitly cost him,but Jealously is a Woman's curse but a thousand times worst in a man.Schemes,washing American $$$,Alledge Buddy build Provedence Cricket Ground,but who sold and who collect$$$$$.

quote:

Originally posted by creative:
raymond i canot blame you for thinking within the box,you think like a kindergarden kid.Twenty five years ago if i told someone of this advance super highway,example we would be walking around with our cell phones and connecting with internet etc.they would doubt me.He did not get part of Lenora without $$$$$,taking the American Dream SCHEME in Guyana would definitly cost him,but Jealously is a Woman's curse but a thousand times worst in a man.Schemes,washing American $$$,Alledge Buddy build Provedence Cricket Ground,but who sold and who collect$$$$$.

Jealousy no, Contempt yes.

Contempt for selling your soul to Buggarat Jagabat to receive preferential treatment.

Tell us about Ed Ahmad involvement in the Marriott scheme that was linked to the NY mafia.

raymond if you think like a Kindergarden kid i understand.A price have to be paid for piece of Lenora,EVERYONE thought Buddy own Providence Cricket Ground etc.but when it was sold who pocket the $$$$ went in.

Marriot is old news,there is rough tide for some Vultures soon.

Pol's shady moneyman a 'loan' wolf

Mortgage 'fraud' suit

By ISABEL VINCENT and MELISSA KLEIN

Last Updated: 9:17 AM, July 18, 2010

Posted: 3:09 AM, July 18, 2010


The mysterious benefactor of embattled Queens Democratic Rep. Gregory Meeks is a scandal-scarred real-estate agent and importer under fire for alleged fraud.

Edul Ahmad, who gave Meeks $40,000 in 2007, has been called "untrustworthy" by state authorities and is being sued for predatory lending, The Post has learned.

He's a longtime friend of both Meeks and state Sen. John Sampson. Meeks and Ahmad used to hold after-hours meetings in the congressman's office, according to an ex-staffer.

Although Ahmad has long been known in his community, he landed in the national spotlight last month when Meeks disclosed for the first time what he termed a "loan" from the businessman.



FRIENDLY FIRE: Rep. Gregory Meeks (pictured) and Sen. John Sampson are both longtime friends of Queens businessman Edul Ahmad (top right) -- who is being sued for predatory lending by two men he allegedly roped into an "excessively priced" mortgage. Ahmad lent Meeks $40,000 in 2007.

The congressman, who had not paid a cent on the loan in three years, said he paid back the advance in June with compounded interest of 12.5 percent.

Meeks is already under federal investigation for his role in a Queens charity with questionable spending.

Now Ahmad is being sued by two Queens brothers, immigrants from Bangladesh, who accuse him of predatory lending and fraud.

The men say they contacted Ahmad in 2006 about two neighboring homes for sale in Queens but claim he falsely told them that only one was available and that another buyer was ready to snatch it up, according to court papers.

Ahmad "demanded" a $20,000 deposit and told the men they had to close on the three-family property, built by Ahmad's brother, within a week.

They were also told that they had to use Ahmad's in-house mortgage broker and were advised against using their own lawyer, court papers say.

The men claim they realized too late that "they had been induced into an excessively priced mortgage."

The suit alleges that the buyers' incomes were falsified to make it appear as if they could afford the loan and that they were required to take out a mortgage for the entire $880,000 purchase price.

The suit charges that Ahmad, his companies and his brother "specifically prey on immigrants from the South Asian community."

Ahmad's criminal-defense lawyer, Steven Kartagener, would not comment on the suit.

Ahmad's real-estate license was suspended for two months in 2008 after New York's Department of State accused him of improperly sending a solicitation to a Queens couple on a cease-and-desist list that forbids real-estate agencies from asking for their business.

Ahmad, 43, immigrated to the United States from Guyana in 1983 and earned a bachelor's degree from Baruch College in 1988.

He started his company, the Ahmad Group, in 1993, according to the company's Web site.

His diverse business interests include Century 21 Ahmad Realty, a mortgage brokerage and a catering hall in Richmond Hill. He also sells tubs and lighting fixtures through a firm called Wholesale Building Supplies and runs South American rice paddies through Pure Rice Manufacture.

Ahmad lives the high life in a McMansion in South Ozone Park. His fleet of cars over the last few years has included a 2004 Lamborghini Gallardo -- with a base price of $165,000 -- a 2003 Mercedes SL500R roadster and a succession of Range Rovers.

Yet, Ahmad cried poverty in legal papers filed in 2008 as part of the license-suspension case.

He claimed that even before the case began -- around the same period he gave the $40,000 to Meeks -- his business was "struggling because of the real-estate crisis and the economy."

Edul Ahmad

Age: 43

Born: Guyana; immigrated to the US in 1983

Education: B.S., Baruch College, 1988

Home: South Ozone Park

Married: Bibi Ahmad

Businesses: The Ahmad Group — Century 21 Ahmad Realty, Ace Mortgage Inc., Chateau Royale catering hall, Citywide Holding Inc., South America Woods, Pure Rice Manufacture, Cancept Clothing, Wholesale Building Supplies, Ed Ahmad Cup. Inc. (cricket)

Associates: State Sen. John Sampson, US Rep. Gregory Meeks, Guyanese President Bharrat Jagdeo

Lawsuits: July 8, 2010, suit alleges predatory lending and real-estate fraud, 2009 foreclosure action on Jamaica home

Additional reporting by Kathianne Boniello

isabel.vincent@nypost.com


Read more: http://www.nypost.com/p/news/l...H6nSgK#ixzz1TCbKu3Mi

I am surprise that the NYers are not researching your own press.............I found this with little effort

More friends of mr Ahmad?

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Stop the slush!

The Post calls for a ban on ‘member items’ steered by lawmakers into the pockets of family and friends

Last Updated: 4:37 AM, July 17, 2011

Posted: July 17, 2011

They’re out of control.

Member items, earmarks, discretionary funds — by whatever name they’re called, they’re the hundreds of millions of dollars in taxpayer cash that New York lawmakers steer to ostensible community projects but that serve as slush funds for the pols, their families and friends.

And if anything is ever to be done about it, some strong new laws are needed.

Here’s how it works: Legislative leaders dole out cash to their members in return for loyalty, support and votes. The members, in turn, toss the cash around in their districts to buy political backing. That’s corrupt enough.




But lawmakers increasingly steer the money to “nonprofit” groups that they, their relatives and/or their friends control. That makes the whole practice — both in Albany and at City Hall — just another way for pols to line their own pockets and those of friends and family.

Consider some examples of the past few years, many exposed by The Post:

* Rep. Gregory Meeks and state Senate ex-President Malcolm Smith, both Queens Democrats, helped found the New Direction Local Development Corp. The group got $56,500 in taxpayer money from 2001 to 2006 and also raised more than $41,000, ostensibly for Hurricane Katrina victims — though it recorded spending only $1,392 on actual Katrina aid.

Status: The group is out of business and under investigation by the US Attorney’s Office.

* Assemblywoman Vivian Cook (D-Queens) founded the Rockaway Boulevard Local Development Corp. RBLDC got $2.5 million from the Port Authority to improve a stretch of Rockaway Boulevard. It spent $560,500 to buy a still-vacant parcel of land and $255,625 on street sweeping.

Status: RBLDC is shut down and under investigation by the PA inspector general and the US Attorney’s Office.

* State Sen. Shirley Huntley (D-Queens) founded The Parent Workshop, to which she steered $30,000. And between 1996 and 2008, she and Cook funneled another $400,000 to another nonprofit, The Parent Information Network, which is run by Huntley’s daughter.

Status: Attorney General Eric Schneiderman is probing both groups.

* Assemblywoman Barbara Clark (D-Queens) helped found the Community Care Development Project in Queens, which got more than $1.9 million in city and state money, including $481,500 in member items from Clark. Most of that money went to staff salaries to provide many of the same services offered by her district office.

Status: This project is still operating.

* City Councilman Larry Seabrook (D-Bronx) and his friends and family controlled a number of groups, including the Northeast Bronx Redevelopment Corp., the Bronx African-American Chamber of Commerce, the African-American Bronx Unity Day Parade, the New York African-American Legal & Civic Hall of Fame, the Mercy Foundation of NY and the Leon Eastmond Educational Excellence Program. Between 2002 and 2009, Seabrook sent $1.2 million in city money to these groups. Nearly half went to salaries for his girlfriend and relatives.


Read more: http://www.nypost.com/p/news/o...kTSzeO#ixzz1TCe3Cp00



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New York-based entrepreneur Ed Ahmad clears the air
Written by
Wednesday, 27 July 2011 01:42
New York –
A statement issued by associates of entrepreneur Ed Ahmad has condemned Kaietuer News, Demerara Waves and Stabroek News reports about charges laid against him by United States authorities as teeming with inaccuracies.
Following is the statement issued by Ahmad’s friends and associates:

We, the friends and associates of Queens-based entrepreneur Ed Ahmad would like to clear the air on a number of inaccuracies contained in articles published in the Kaieteur News and Demerara Waves online news, over charges filed against him recently by United States authorities.
We believe that Mr Ahmad, who has been operating a real estate business in the borough of Queens for the last 18 years, would be exonerated of the charges in due course.
However, we would like to point out several inaccuracies contained in a number of published articles in the Kaieteur News, Demerara Waves online news and the Stabroek News. It is totally false for Kaieteur News to publish that Ed was dragged off the plane in an article on July 24, under the headline " FBI drags Guyanese from Delta flight bound for Guyana."
Mr Ahmad was never on the plane and as such, could not have been "dragged off". On Thursday evening, as he was about to check in, he was approached by two Federal Bureau of Investigations (FBI) officers who asked to speak with him. Mr Ahmad stepped out of the line and spoke with the two officers who, subsequent to his conversation with them, requested that he accompany them to Manhattan, and he did.
For Kaieteur News to report that he was dragged off the plane was a total fabrication, which exposed the lack of journalism skills and journalistic ethics of the owner of the newspaper, Glen Lall.
In recent years for reasons known only to Lall, he (Lall) has embarked on a vendetta against Mr Ahmad and as such has used his publication as a conduit for his vitriolic attacks against him.
We believe that the Guyanese people deserve better for their money when they purchase a newspaper than to be subjected to Lall's vile attacks on Mr Ahmad for four consecutive days. We would like to know what was so important about this story, for Lall to publish several stories about Ed for four days.
Also we would like to set the record straight, contrary to reports in the Kaieteur News, Stabroek News and Demerara Waves online, Mr Ahmad is not being electronically monitored and has been going about his business as usual.
We also take issue with Demerara Waves online article under the headline "PPP associate ensnared in New York straw mortgage deals; being electronically monitored". While, Mr Ahmad is a proud supporter of the PPP, he does not consider himself an "associate".
We also reiterate the PPP's response to the Demerara Waves article, that Mr Ahmad has not contributed to the PPP 2011 campaign, and he is not "financier" or an "operative" of the PPP.
In reference to remarks contained in the articles about his business in Guyana, Mr Ahmad has invested in Guyana, just like any other overseas investor. He has been providing quality building materials at affordable prices to the Guyanese population and has created jobs for several Guyanese as well. We wonder why he is being castigated for being an investor in Guyana and contributing to the development of the country.
We recall with sadness, the days when Guyanese used to support each other in times of distress, now, it seems, some can't wait to kick one when one is down.
However, Mr Ahmad will continue to invest in Guyana and contribute toward the country's development, because the Guyanese people deserve the best.

Published and supported by friends of Ed Ahmad.

quote:

However, we would like to point out several inaccuracies contained in a number of published articles in the Kaieteur News, Demerara Waves online news and the Stabroek News. It is totally false for Kaieteur News to publish that Ed was dragged off the plane in an article on July 24, under the headline " FBI drags Guyanese from Delta flight bound for Guyana."
Mr Ahmad was never on the plane and as such, could not have been "dragged off". On Thursday evening, as he was about to check in, he was approached by two Federal Bureau of Investigations (FBI) officers who asked to speak with him. Mr Ahmad stepped out of the line and spoke with the two officers who, subsequent to his conversation with them, requested that he accompany them to Manhattan, and he did.
For Kaieteur News to report that he was dragged off the plane was a total fabrication, which exposed the lack of journalism skills and journalistic ethics of the owner of the newspaper, Glen Lall.
In recent years for reasons known only to Lall, he (Lall) has embarked on a vendetta against Mr Ahmad and as such has used his publication as a conduit for his vitriolic attacks against him.
We believe that the Guyanese people deserve better for their money when they purchase a newspaper than to be subjected to Lall's vile attacks on Mr Ahmad for four consecutive days. We would like to know what was so important about this story, for Lall to publish several stories about Ed for four days.
Also we would like to set the record straight, contrary to reports in the Kaieteur News, Stabroek News and Demerara Waves online, Mr Ahmad is not being electronically monitored and has been going about his business as usual.

KN like Fox News!

The man is innocent until proven guilty. No one should rush to judgement.