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Ahmad facing a maximum of 20 years

Jul 28, 2011 News

Guyanese/New York-based businessman Edul Ahmad could get up to 20 years in prison if convicted of mortgage fraud in the United States of America.
This is according to Robert Nardoza of the New York District Attorney’s office.
Speaking with this newspaper yesterday via telephone, Nardoza said that unless there is a plea deal Ahmad could get the maximum if convicted.
He could not say if the matter will go to trial since there is the possibility that there could be a plea bargain arrangement.
“This case is pending,” he said.
Ahmad is presently on $2.5M bail and according to court documents, is being electronically monitored.
US District Attorney, Alexander Solomon, who is listed as the prosecutor, declined to comment on the case when this newspaper contacted him yesterday.
However, Nardoza said that once it is listed in court documents that electronic monitoring is part of the bail arrangement then that is the case.
“If that is what the judge ordered then that is it, but you could confirm it with his (Ahmad) attorney,” Nardoza told Kaieteur News.
Efforts to contact Ahmad’s attorney in New York were futile.
Court documents revealed that the electronic monitoring will cease after the necessary affidavits of confession of judgement are filed, and this is expected to be done on or before Friday coming.
This newspaper was reliably informed that the confession of judgement has to do with Ahmad’s bail condition.
A source in New York indicated that the confession
of judgement is in fact an acceptance of the condition under which the bail is granted, and it makes it easier for the state to confiscate the properties that were put up as surety if the party concerned skips bail.
Ahmad was arrested by agents of the United States of America federal bureau of investigations, last Saturday after he had boarded a flight bound for Guyana.
Court documents have detailed how the Guyanese/American businessman fleeced a US lending agency “Countrywide Home Loans” of more than US$700,000 on two New York properties.
According to the US Federal agent, 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.

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