Anytime someone rise too fast, be cautious.
Former Member
Ed Ahmad was full of greed,he lived an flambouyant life, knowing the money was from fraud. He knew what was the correct thing to do and yet he misled the poor ,uneducated Guyanese people. Ed is not going down alone, on his pleabargain many names were given, look at Baldeo, that is no surprise. Take note more names to follow. Most Guyanese left the land of promises, to come to the promised land to build a future, they work hard for their dollar, educate their children and to fulfill the American Dream to Own A House, through legal means. Someone like Ed who is placed on a pedestal ,same as a priest, the community will eventually give all their trust. I know for a fact many of those people signed loan and mortgage documents without it not being explained to them. and even so, have you ever seen the fine writings in those papers, you need a lawyer to translate, That Was Ed Ahmad job to explain, he failed to do so. Don't be sorry for Ed, He has investments all over in Guyana, after spending 4years, he will he out for good behaviour and then return to Guyana to start his Old Tricks All Over Again||||
4 years?
I heard he informed many that he will get 3 years of Community Service and no jail time.
If this is the sentence, which I am surprised, then he can be sentenced to work for RHEDC and really help to develop Richmond Hill
Originally Posted by baseman:
Anytime someone rise too fast, be cautious.
Yeah, that's how Iman became a daddy years ago.
Former Member
Originally Posted by kp:
it's time he is placed in a safe house, he deserves a longer sentence, he took millions but hurt hundreds.
What ever happen to the PPP man Edul Amed?
Former Member
We suddenly get amnesia.
Ramjattan introduced him to Ramotar He was always anti-PPP until Ramjattan give he lil talk that he like to hear
Former Member
Originally Posted by Vish M:
| Updated: Guyanese Ed Ahmad pleads guilty to mortgage fraud in New York court | | Print | |
| Written by Demerara Waves |
| Wednesday, 10 October 2012 13:59 |
  Ed Ahmad New York-based Realtor, Ed Ahmad on Wedneday pleaded guilty to mortgage fraud and could face up to 13 years imprisonment. Ahmad, who was indicted on a US$50 million mortgage fraud, handed in his guilty plea at 12:08 (New York time), less than one month after he entered a plea bargain. Ahmad, a former member of the Guyana Police Force, plead guilty to count one of his indictment when he appeared before Judge Dora Irazarry. The New York court would soon issue a schedule leading up to the sentencing. US Attorney Alexander A. Solomon indicated that the prosecution would be seeking 121 to 151 months jail terms- the equivalent to about 10-12 years 7 months., a few short of 13 years. The financial penalties totalling US$42 million include US$14 million in restitution, US$28 million in criminal fine and a mandatory criminal forfeiture of US$500,000. Defense Attorney, Steven R. Kartagener indicated that he would contest the actual amount of the monetary loss Ahmad is responsible for, a move that could possibly result in a reduction in the monetary penalties. The two sides are expected to argue and make written submissions between now and the date of sentencing. The criminal fine and restitution are based on the government's estimate of loss in the amount of US$14 million. The criminal fine is twice the gross loss. Restitution is in addition to criminal fine. . Between now and sentencing the parties are expected to argue and make submissions on the actual amount of monetary loss Ahmad, a close friend of former Guyana President Bharrat Jagdeo, was visibly nervous and spoke with a broken voice. He plead guilty to count one of bank and wire fraud and said his attorney had no viable defence. The offence included conspiracy to defraud various lending institutions by doing false appraisals of the values of properties. The offences were committed between January 1995 and January 2009. In 2011, Ahmad was reportedly removed from a Guyanese-bound airplane on the tarmac at JFK airport by the FBI and was indicted in connection with a massive $50 million mortgage fraud scheme. Ahmad's financial dealings have been also caught up in New York's politics. Ahmad made a $40,000 payment to Rep. Gregory Meeks (D-NY) in 2007 that the Congressman failed to disclose on his Financial Disclosure Reports for 2007, 2008, and 2009. Meeks subsequently claimed the $40,000 payment was a loan, but there were no note or payments until several years after the payment was made. Last year the Office of Congressional Ethics (OCE) asked the House Ethics Committee to investigate the matter. The OCE reported that Rep. Meeks "refused to cooperate with the OCE's investigation. |
I when this chap going to JAIL???
Former Member
Ahmad, a former member of the Guyana Police Force
There is the problem. It's in the training. Hope he stays for a looooong time.
Originally Posted by Billy Ram Balgobin:
This type of fraud is prevalent throughout the United States. Ed's case is not an isolated one. What "scheme" was Ed part of?
Housing scheme
Originally Posted by cain:
Originally Posted by baseman:
Anytime someone rise too fast, be cautious.
Yeah, that's how Iman became a daddy years ago.
If only yo tennis roll them did rise like that youd be aight
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