Results 1 to 7 of 7

Thread: Updated: Guyanese Ed Ahmad pleads guilty to mortgage fraud in New York court

  1. #1
    Registered User Seawall's Avatar Seawall is offline
    Join Date
    Mar 2009
    Location
    maryland
    Posts
    4,328
    Credits
    11,321,991

    Updated: Guyanese Ed Ahmad pleads guilty to mortgage fraud in New York court

    If only these crooks faced justice back in Guyana...




    Updated: Guyanese Ed Ahmad pleads guilty to mortgage fraud in New York court

    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.
    "Every onlooker is either a coward or a traitor." — Frantz Fanon

    “If there is no struggle, there is no progress. Those who profess to favor freedom, and yet depreciate agitation, are men who want crops without plowing up the ground. They want rain without thunder and lightning. They want the ocean without the awful roar of its many waters.” Frederick Douglass

  2. #2
    Registered User kidray is offline
    Join Date
    Jul 2012
    Location
    canada
    Posts
    415
    Credits
    1,300,705
    oh oh he and antiman jadgeo is friend,they should lock him up in a gang jail.

  3. #3
    Registered Member VINCYPOWA's Avatar VINCYPOWA is offline
    Join Date
    Apr 2004
    Location
    ISLANDMIX DOT COM
    Posts
    89,615
    Credits
    47,045,995
    These INDO GUYANESE are out of ORDER.

    We just CAUGHT SEVEN of them in VINCYLAND with EQUIPMENT that are used to BREAK INTO ATM MACHINES.

    These INDO GUYANESE ARE CROOKS and should be BANNED from visiting these countries unless they are thoroughly scrutinize on entry.

    YUHHHH SEEEEEE MEEEEEEE

  4. #4
    Cervical Cancer MÉCHANT LOUP's Avatar MÉCHANT LOUP is offline
    Join Date
    Mar 2004
    Location
    Black Forest.......
    Posts
    36,268
    Credits
    17,433,584
    Indo Guyanese...have such a bad reputation to me. They are not to be trusted like Nigerians, Jamaicans, Haitians.
    Girly boy why do you get such a kick out of dissing women? - Namey Namey

    You don't act proper, you just act angry. You act like a angry racist white new york cop.-Namey Namey


    Everyone knows MÉCHANT LOUP is a jackass, but a pedophile? - Namey Namey

    MÉCHANT LOUP like women? The only thing MÉCHANT LOUP like more than hearing that a blackman was gunned down by cops, is a hairy man ass. - Namey Namey


    MÉCHANT LOUP a battyman. - Namey Namey

  5. #5
    Plays Harder cassette_craig's Avatar cassette_craig is offline
    Join Date
    Apr 2009
    Location
    Gyalana
    Posts
    10,160
    Credits
    1,591,598
    Quote Originally Posted by Insidious View Post
    Indo Guyanese...have such a bad reputation to me. They are not to be trusted like Nigerians, Jamaicans, Haitians.
    Yuh zeet right? But yet still they leaving from the Corentyne bus loads every day. Yuh should see dme line up since 4am every morning at passport office and us embassy fuh get passport and visa fuh guh and give Guyana a more bad name
    joie de vivre

    carpe diem

    I can tell you a story bout my dyck but
    it would be way too long

  6. #6
    Registered User NASDAQ's Avatar NASDAQ is offline
    Join Date
    Feb 2010
    Location
    V I
    Posts
    3,175
    Credits
    2,322,051
    Quote Originally Posted by cassette_craig View Post
    Yuh zeet right? But yet still they leaving from the Corentyne bus loads every day. Yuh should see dme line up since 4am every morning at passport office and us embassy fuh get passport and visa fuh guh and give Guyana a more bad name
    lol

    and they will still walk around acting like they better than us..but hey whatcha gonna do

  7. #7
    Cervical Cancer MÉCHANT LOUP's Avatar MÉCHANT LOUP is offline
    Join Date
    Mar 2004
    Location
    Black Forest.......
    Posts
    36,268
    Credits
    17,433,584
    Quote Originally Posted by cassette_craig View Post
    Yuh zeet right? But yet still they leaving from the Corentyne bus loads every day. Yuh should see dme line up since 4am every morning at passport office and us embassy fuh get passport and visa fuh guh and give Guyana a more bad name

    It's bad when you are Indo-Guyanese and you can't even trust Indo-Guyanese...that's the height of no respect, stealing and robbing your own!
    Girly boy why do you get such a kick out of dissing women? - Namey Namey

    You don't act proper, you just act angry. You act like a angry racist white new york cop.-Namey Namey


    Everyone knows MÉCHANT LOUP is a jackass, but a pedophile? - Namey Namey

    MÉCHANT LOUP like women? The only thing MÉCHANT LOUP like more than hearing that a blackman was gunned down by cops, is a hairy man ass. - Namey Namey


    MÉCHANT LOUP a battyman. - Namey Namey

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •