Guyanese businessman Ed Ahmad, who pleaded guilty to criminal charges in a US court and is awaiting sentencing, has begun making forfeiture payments as ordered by the court last month with the deposit of US$28,662 into the Seized Asset Deposit Fund.
A court filing on Tuesday revealed this information and said it was in keeping with the December, 2014 order made by New York Judge Dora Irizarry following a request from the US State’s Attorney office.
Ahmad, who pleaded guilty to mortgage fraud conspiracy on October 10, 2012, has to make payments of forfeiture money to the tune of US$500,000. He faces over 10 years in jail and US$15 million in restitution and fines.
Judge Irizarry had ordered that the money shall be paid not later than the date of the defendant’s sentencing which was only listed as the