US-based Guyanese businessman Ed Ahmad was arrested in New York on Friday on mortgage fraud charges and was released on bail of US$2.5M according to yesterday’s edition of the New York Daily News.
The report said Ahmad, who runs a real estate business in New York, was arrested by the Federal Bureau of Investigation and then released on bail. The details of the mortgage charges are not yet known. A number of real estate operators, including Guyanese, have been prosecuted in New York in recent years on mortgage fraud.
Ahmad, in recent months, has been relocating his business to
