Politically connected real estate magnate reaches plea deal in Queens mortgage fraud investigation

Edul Ahmad
Edul Ahmad

Guyanese broker and real estate magnate Edul Ahmad, accused of perpetrating a $50 mortgage fraud scheme against fellow Guyanese immigrants, has reached a tentative agreement with federal investigators, Crain’s reported.

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Ahmad, who was arrested by Federal Bureau of Investigation agents last year, is charged with conning buyers into taking out subprime mortgages, inflating the values of their properties and hiding his involvement by using straw buyers.

The southeast Queens broker has been associated with Queens Congressman Gregory Meeks — now the subject of a House Ethics Committee investigation because he did not disclose a loan from Ahmad — as well as John Sampson, the Democratic State Senate Minority Leader. [Crain’s] — Guelda Voien