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FM
Former Member

Prosecutors move to collect US$500,000 from Ed Ahmad

December 2, 2014 | By | Filed Under News 

More than two years after pleading guilty to mortgage fraud spanning a period of 15 years, Guyanese-born real estate

Facing jail: Edul Ahmad

Facing jail: Edul Ahmad

 

Mogul, Edul Ahmad is set to pay over US$500,000 he agreed to pay as part of the forfeiture process.

 

On November 28th, US Attorneys wrote Judge Dora Irizarry of the Eastern District of New York, asking that she grant a forfeiture order.
Ahmad, well known in Guyana for his hardware business and other interests, has to pay the monies before he is sentenced.

 

It is now more than likely that the New York-based businessman is to be sentenced soon.
On October 10, 2012, the defendant pleaded guilty, before the same Judge, on count one of the ten-count criminal complaints against him. He told the court that his attorney has advised him that there is no viable defence to the charges against him.

 

In admitting guilt, Ahmad told Judge Irizarry that between January 1995 and January 2009, within the Eastern District of New York and elsewhere, together with others, he knowingly and intentionally conspired to defraud several lending institutions, in a mortgage fraud scheme that lasted almost 15 years.

 

The United States Attorney’s office alleges that Ahmad was part of a scheme that defrauded American lending institutions of approximately US$50M, obtaining approval for mortgages on various properties by falsifying documents submitted to the lending institutions, using a string of straw buyers, and other illegal practices.

 

In detailing the allegations against the Queens businessman with strong political connections, Judge Irizarry outlined a scheme which had as its victims not only financial institutions, but also many ordinary New Yorkers, most of whom were Guyanese immigrants pursuing the American dream of owning their own homes only to find themselves trapped in a real estate scheme, which ultimately resulted in them losing their homes in foreclosure proceedings while Ahmad and his

Judge Dora Irizarry

Judge Dora Irizarry

 

co-conspirators made millions of dollars.
Ahmad admitted in court that he knew what he was doing was illegal.
Before Ahmad entered his plea, in 2012, Judge Irizzary informed him that his guilty plea would mean that he would be faced with a mandatory US$500,000 criminal forfeiture, a fine that is double the gross monetary loss caused by his conduct.

 

The government has pegged the momentary loss at US$14M which means that Ahmad would face a criminal fine of US$28M in addition to US$14M in restitution, exposing him to monetary penalties in the total amount of US$42.5M.

 

While the offence that Ahmad pleaded guilty to carries a maximum term of imprisonment of 30 years, the Federal Sentencing Guidelines will determine exactly how much of the 30 years he is actually sentenced to.
Prosecutors had asked for a jail term of between 121 and 151 months (10 to approximately 13 years) of imprisonment.
Ahmad would also be placed on probation for a period that could be up to five years after serving his time.

 

Ahmad’s case has attracted much attention from the media in Guyana and in New York, fueled by his strong political connections locally and in the U.S.
Prior to the fraud charges, Ahmad reportedly had close links with Guyana’s ruling political party, even reportedly shipping containers of construction materials to former President Bharrat Jagdeo.

Replies sorted oldest to newest

Originally Posted by Nehru:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

HEHEHEHE

Bhai, is nah dem does halla about thiefing, drugs and corruption under the PPP everyday? If they does keep count, then they should know the answer. Right?

FM
Originally Posted by RiffRaff:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

Were there facts and figures in regard to accusations against Burnham?

Long lines of starving People. Old Buildings, bad roads.

Nehru
Originally Posted by Cobra:
Originally Posted by Nehru:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

HEHEHEHE

Bhai, is nah dem does halla about thiefing, drugs and corruption under the PPP everyday? If they does keep count, then they should know the answer. Right?

Low breed behavior is to condone, deflect and ultimately embrace criminality. Nothing new here, the usual serpent piss being used to try and wash away whatever minute traces of shame are left.

FM
Originally Posted by HM_Redux:
Originally Posted by Cobra:
Originally Posted by Nehru:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

HEHEHEHE

Bhai, is nah dem does halla about thiefing, drugs and corruption under the PPP everyday? If they does keep count, then they should know the answer. Right?

Low breed behavior is to condone, deflect and ultimately embrace criminality. Nothing new here, the usual serpent piss being used to try and wash away whatever minute traces of shame are left.

YUh gone MAD, why are you describing yourself???

Nehru
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Cobra:
Originally Posted by Nehru:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

HEHEHEHE

Bhai, is nah dem does halla about thiefing, drugs and corruption under the PPP everyday? If they does keep count, then they should know the answer. Right?

Low breed behavior is to condone, deflect and ultimately embrace criminality. Nothing new here, the usual serpent piss being used to try and wash away whatever minute traces of shame are left.

YUh gone MAD, why are you describing yourself???

You need to come up with some more innovative and original material, I know you are a mirror man, put it down.

FM
Originally Posted by Nehru:
Originally Posted by RiffRaff:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

Were there facts and figures in regard to accusations against Burnham?

Long lines of starving People. Old Buildings, bad roads.

damn...didn't know you used to starve...they still have plenty bad roads and old buildings...wheel and come again with real "facts and figures" like CObra wants

FM
Originally Posted by RiffRaff:
Originally Posted by Nehru:
Originally Posted by RiffRaff:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

Were there facts and figures in regard to accusations against Burnham?

Long lines of starving People. Old Buildings, bad roads.

damn...didn't know you used to starve...they still have plenty bad roads and old buildings...wheel and come again with real "facts and figures" like CObra wants

Bhai, me nah want facts and figure from Burnham. I want some cassava bread, yam and good home grown food. God bless he soul. 

FM
Originally Posted by Nehru:
Originally Posted by Cobra:
Originally Posted by Tola:

Do we have count of corrupt, court cases and jailed persons associated with the Jagdeo/Ramotar government ?

I was hoping you can provide the facts and figure to us?  

HEHEHEHE

Why are you laughing? Everyone of the scam artists who were indicted ( some 20) were PPPites. You can find that list yourself, just use your google fu.

FM
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Nehru:

Vish, Did Leyland ever apologized???

Why are you PPP chaps always looking for an apology. Do you ask kwame for an apology every time he rub yuh back?

NO but when I in yuh Neighborhood no apologies given!!!!!!!!!!!!

I got neighborhood watch in me area, and nuff dog catcher you wouldn't survive in de hood. Dem would catch a stray like you in 2 minutes flat.

FM
Originally Posted by Vish M:
Originally Posted by Nehru:

Vish, Did Leyland ever apologized???

No. He never did.

 

But he is a "low life" and his apology has no value

Leyland is a community leader and a great real estate agent.

 

You need to put bitterness aside and let the past stay in the past. How long you gonna hold a grudge for?

FM
Originally Posted by HM_Redux:
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Nehru:

Vish, Did Leyland ever apologized???

Why are you PPP chaps always looking for an apology. Do you ask kwame for an apology every time he rub yuh back?

NO but when I in yuh Neighborhood no apologies given!!!!!!!!!!!!

I got neighborhood watch in me area, and nuff dog catcher you wouldn't survive in de hood. Dem would catch a stray like you in 2 minutes flat.

I am not surprise, Dogs usually are among dogs.

Nehru
Originally Posted by HM_Redux:
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Nehru:

Vish, Did Leyland ever apologized???

Why are you PPP chaps always looking for an apology. Do you ask kwame for an apology every time he rub yuh back?

NO but when I in yuh Neighborhood no apologies given!!!!!!!!!!!!

I got neighborhood watch in me area, and nuff dog catcher you wouldn't survive in de hood. Dem would catch a stray like you in 2 minutes flat.

They might even step pon his hands as he tries to flee. Dat reminz me.

 

Oi Nehru I hear something about how you does usually get yo haneds dem stepped on while you leave parties, dat true banna?

cain
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Nehru:
Originally Posted by HM_Redux:
Originally Posted by Nehru:

Vish, Did Leyland ever apologized???

Why are you PPP chaps always looking for an apology. Do you ask kwame for an apology every time he rub yuh back?

NO but when I in yuh Neighborhood no apologies given!!!!!!!!!!!!

I got neighborhood watch in me area, and nuff dog catcher you wouldn't survive in de hood. Dem would catch a stray like you in 2 minutes flat.

I am not surprise, Dogs usually are among dogs.

what did little boozie say? I'm  dog, I'm  dog,I'm  dog,I'm  dog,I'm  dog, I'm mother &&&ucking dog!

 

FM

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