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| … US mortgage fraud investigationAuthorities in the United States of America have subjected Queens-based Guyana-born businessman Edul Ahmad to electronic monitoring as they continue to probe mortgage fraud totaling hundreds of thousands of dollars.Ahmad who operates a real estate business is being investigated for allegedly fleecing a US lending agency, Countrywide Home Loans, of more than US$700,000 on two New York properties.He was arrested at the John F Kennedy International Airport in New York last Saturday by agents from the US Federal Bureau of Investigations, just after he had boarded a Delta Airlines flight to Guyana.Edul AhmadHe was subsequently released on $2.5M bail.Apart from the bail and electronic monitoring, Ahmad is also subjected to other conditions that are designed to guarantee his appearance to answer the charges he faces.Ahmad must pay the cost of the electronic monitoring.He is also confined to the southern and eastern districts of New York and he must seek the permission of the court if he wants to leave.Court documents also disclosed that Ahmad shall surrender any and all passports to the United States Pretrial Services Agency and shall not apply for another passport.He is also subjected to the express supervision of the Pretrial Services Agency as well as random visits by an officer of the agency at his home or his place of work.In addition he must report to the agency as directed.US Federal Special Agent Bryan Trebelhorn has revealed in court documents that Ahmad fleeced a US lending agency, Countrywide Home Loans,Nike Just Do It Scarpe Uomo, of more than US$700,000 on two New York properties.The Special Agent, who has been working on the FBI’s Financial Institutions Fraud Squad, has testified in an affidavit that he has been working on matters relating to the Guyana-born businessman since 2007.The FBI Agent said that on numerous occasions, Ahmad as the owner of a mortgage brokerage business, conspired to obtain mortgage loans from lenders through fraudulent means.He stated that during 2006 and 2007, Ahmad participated in the preparation of approximately 163 mortgage loan applications to a lending agency, Countrywide Home Loans, for which Countrywide has suffered losses.He cited two cases for which there is clear evidence of fraud, in which Ahmad obtained over $700,000 in mortgage loans from countrywide home loans, on two properties he owns.Ahmad raised eyebrows when he made a questionable $40,000 “loan” to Representative Greg Meeks. Ahmad is a key figure in ongoing probes of the “loan” Meeks forgot to repay for 3 1/2 years until the New York Daily News exposed it.Ahmad recently opened a place called Building Materials and Appliances Depot located at Industrial Site, Ruimveldt, in the publishing house of what was once the ruling party’s newspaper, the Mirror. |
