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Guyana Police Force

convicted criminal ed ahmad still cutting billion dollar deals with guyana govt


ed ahmad case files
Ed Ahmad office in Guyana is located next door to guyana ruling party newspaper. he’s renting from ppp crime family inc @ ruimveldt
his housing development is located in the same village as his felliw muslim and good friend, minister irfaan ali

Kaieter News: Government must explain the details surrounding a land deal with New-York based Guyanese, Edul Ahmad, who received a 17-acre plot of prime land at West Coast Demerara, but failed to build a wood processing plant as promised.
Instead, Ahmad, said to be a close associate of former President Bharrat Jagdeo, converted it to house lots and is now set to make at least $600M from his $80M investment.

http://m.youtube.com/watch?v=MFyr7YsB-pY

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13 thoughts on “convicted criminal ed ahmad still cutting billion dollar deals with guyana govt

  1. Ed Ahmad gears to make $600M on $80M GuySuCo land deal

    APRIL 13, 2014 | BY KNEWS | FILED UNDER NEWS

    …changes from wood processing plant to housing scheme

    Almost five years after acquiring a huge piece of prime, seaside property to develop a value-added wood processing operation, a New York-based Guyanese businessman has now instead converted the area into house lots.
    However, there has been no official announcement by the administration over the new arrangements and who would have given the permission.
    The conditions of sale were that the company would have set up a factory to creat jobs for persons in the neighbourhood.
    This condition was responsible for the low price they paid for the land. There has been no factory to date. Instead there is a multi-million-dollar housing development project.
    The project, Leonora Mall and Hollywood Garden, is being managed by Leonora Projects which is owned by Shareef and Ed Ahmad. The latter is said to be a close associate of former President Bharrat Jagdeo.
    The name of this project is advertised on a signboard established at the site of what was to be the location of the wood processing plant.
    The conversion of the almost 17-acre plot to the Leonora Mall and Hollywood Garden has been raising eyebrows as again, it is the controversial National Industrial and Commercial Investments Ltd (NICIL) that is involved.
    Winston Brassington heads NICIL although he offered his resignation almost a year ago. He was the one that piloted this deal with Ahmad.
    The land, located around a scenic turn, was once the managers’ compound. It was under the control of the state-owned Guyana Sugar Corporation (GuySuCo) and home to a pool and several of GuySuCo’s senior staffers.
    Around 2009, NICIL reportedly sold it to Ahmad for $80M or about $4.7M per acre.
    According to the company’s website, Leonora Projects is planning to construct 87 homes on the site.
    Company officials said, yesterday, that a house lot is now being sold for at least $7M. This means that the $80 million plot of land is now worth more than $600M.ed ahamad housing scheme
    The company is also building homes for at least $30M each.
    In announcing the sale, NICIL and its sister agency, Privatisation Unit, had said that the use of the land was restricted to value-added wood processing operations.
    The sale of the land was made to one of Ahmad’s companies, South American Woods Incorporated, which is also owned by another individual whose name is given as Shareef Ahmad.
    According to the website leonoraprojects.com, the initiative is one of the most grand development projects in Guyana. “It is being done with ‘you in mind’. Leonora Projects is a vision of Ed Ahmad.”
    It is the plan to include a full gas and service station, facilities to house two banks and a huge shopping mall.
    “Leonora Projects illustrates the envisioning of an entire community, not just homes,” the website says.
    The Leonora projects are being run from Ahmad’s building materials depot at Ruimveldt, Georgetown.
    NICIL itself has been embroiled in a number of questionable transactions including its privatization of the Sanata
    Complex in Ruimveldt which was sold cheaply to Queens Atlantic, headed by former President Bharrat Jagdeo’s best friend, Dr. Ranjisinghi ‘Bobby’ Ramroop.
    NICIL’s point man, Winston Brassington, is at the centre of a number of questionable deals including the Marriott Hotel and financial arrangements of the Berbice River Bridge.
    Ahmad was charged by the US Federal authorities for his involvement in a massive real estate fraud scheme.
    In October 2012, during a plea deal in a New York court, he was found guilty of knowingly and intentionally conspiring to defraud several lending institutions over a period of 15 years.

    Govt. must explain $80M Ed Ahmad land deal – APNU

    APRIL 16, 2014 | BY KNEWS | FILED UNDER NEWS

    Government must explain the details surrounding a land deal with New-York based Guyanese, Edul Ahmad, who received a 17-acre plot of prime land at West Coast Demerara, but failed to build a wood processing plant as promised.
    Instead, Ahmad, said to be a close associate of former President Bharrat Jagdeo, converted it to house lots and is now set to make at least $600M from his $80M investment.
    The Opposition is not taking the matter lightly, with the coalition, A Partnership for National Unity (APNU), demanding an entire review of the transaction.
    According to APNU Member of Parliament, Joseph Harmon, whenever state resources are allocated or sold for specific purposes to help create jobs, then any changes will require a different consideration. This will include a full assessment of that change, with considerations of the market value of the land.
    In the case of the land sold to Ahmad, Harmon stressed that it was almost 17 acres of prime property at Leonora.
    “To convert this land from a wood processing plant project to create jobs to now selling house lots is concluding that the new owner is profiteering. We could have gotten more money if the true purpose was disclosed initially.”
    The MP insisted that with Ahmad known as a “friend of the administration”, the transaction itself becomes even more questionable.
    “I believe that to make changes would be breaching the conditions of the lease or the sale of the land. Clearly, this is highly unacceptable, and speaks of how this Government and previous ones go about handling the assets and business of the people.”
    The land in question was sold about five years ago to Ahmad through a local company, South American Woods Incorporated, in which his name appears as one of the directors. It was the understanding that the low cost of $80M for the land was because of the promise it was to be used for the establishment of the wood processing plant.
    The project, Leonora Mall and Hollywood Garden, is being managed by Leonora Projects which is owned by Shareef and Ed Ahmad. The transaction was handled by the controversial National Industrial and Commercial Investments Ltd (NICIL), headed by Winston Brassington.
    The land was once the managers’ compound of Leonora sugar estate which once fell under the control of the state-owned Guyana Sugar Corporation. Around 2009, NICIL reportedly sold it to Ahmad for $80M or about $4.7M per acre. According to the company’s website, Leonora Projects is planning to construct 87 homes on the site. A house lot is now being sold for at least $7M. This means that the $80 million plot of land is now worth more than $600M.
    The company is also building homes for at least $30M each.
    It is the plan to include a full gas and service station, facilities to house two banks and a huge shopping mall.
    The Leonora projects are being run from Ahmad’s building materials depot at Ruimveldt, Georgetown.
    NICIL itself has been embroiled in a number of questionable transactions, including its privatization of the Sanata Complex in Ruimveldt, which was sold cheaply to Queens Atlantic, headed by former President Bharrat Jagdeo’s best friend, Dr. Ranjisinghi ‘Bobby’ Ramroop.
    NICIL’s point man, Winston Brassington, is at the centre of a number of questionable deals including the Marriott Hotel and financial arrangements of the Berbice River Bridge.
    Ahmad was charged by the US Federal authorities for his involvement in a massive real estate fraud scheme. In October 2012, during a plea deal in a New York court, he was found guilty of knowingly and intentionally conspiring to defraud several lending institutions over a period of 15 years.

    Posted by mark | April 16, 2014, 7:26 pm
    • NICIL denies knowledge of Ed Ahmad GuySuCo land for house lots

      APRIL 17, 2014 | BY KNEWS | FILED UNDER NEWS

      …says agreement provides for shopping mall following wood processing plant

      The National Industrial and Commercial Investments Ltd. (NICIL) has denied any knowledge that the portion of Guyana Sugar Corporation (GuySuCo) land sold to New York-based Guyanese Edul Ahmad is being converted into house lots.
      Edul Ahmad a close affiliate of former Bharrat Jagdeo.
      The foreign-based businessman, who is said to be a close affiliate of former President Bharrat Jagdeo, bought over 16-acres of prime land from the local sugar company. According to the Agreement of Sale, his company, South American Wood Inc. is supposed to construct a wood processing facility, which is supposed to create numerous jobs for locals.
      However, it has been reported that Ahmad stands to make profits of over $600M when he converts the property for which he paid a mere $80M, to a housing scheme, inclusive of a shopping mall, full gas and service station and facilities to house two banks.
      NICIL in a press release, yesterday, claims that it acted as an agent when the transaction was done between Ahmad and GuySuCo and according to the agreement, the land at Plantation Groenveldt on the West Coast of Demerara could be converted to a shopping mall once the wood processing plant is the first structure on the property.
      NICIL said that GuySuCo entered into a Restrictive Covenant as set out in the terms and conditions of the sale, published in the Vesting Order, effecting the transfer of title, that “the property shall not be used for any other purpose other than for the construction and operation of a wood processing facility with the option of future development in manufacturing, industrial and commercial activities including the construction and operation of a shopping mall, providing that the construction of the wood processing facility is commenced first” and that construction of the wood processing facility commences within one year of the agreement.
      NICIL has defended the selling price; that GuySuCo’s land was subjected to two prior bids when in 2003, the highest valid bid amounted to $30M and in 2004, no bids were received for the property. This, the privatization agency said, caused the land to be sold, “at a price comparable with valuations established for GuySuCo land on the East Coast Demerara at $5M per acre.”
      While NICIL claims ignorance of the matter, it says that neither the government nor GuySuCo, “has any knowledge of any change of the agreement,” which was entered into with Ahmad’s wood processing company.
      The opposition is however, bent on asking hard questions relating to this transaction and is also demanding that the entire transaction be reviewed. The opposition is convinced that all may not be as it seems since state property sold to create jobs and then being converted to a housing scheme means that the owner is profiteering.
      Winston Brassington
      The GuySuCo property was sold to Ahmad in 2008 and reports are that the project, Leonora Mall and Hollywood Garden, is being managed by Leonora Projects which is owned by one Shareef and Ahmad. NICIL, a state-privatisation arm of the government, is however no stranger to criticism; ending up in the spotlight for what many have referred to as being involved in “tainted” transactions where state resources were sold or privatized under the tenure of Winston Brassington.
      Most notable is the sale of the Sanata Complex for “a next to nothing” price to best friend of Bharrat Jagdeo, Dr. Ranjisingh ‘Bobby’ Ramroop.
      Ahmad is also no stranger to negative publicity. He was charged by US Federal authorities for his involvement in a massive fraud scheme and in 2012, he entered a plea deal with US agents, and was found guilty of knowingly and intentionally conspiring to defraud several lending institutes over a 15-year period.

      Posted by mark | April 17, 2014, 1:28 pm
      • Dem boys seh…Brazzy playing stupid again

        APRIL 17, 2014 | BY KNEWS | FILED UNDER DEM BOYS SEH, FEATURES / COLUMNISTS, NEWS

        Every time a big one dead under suspicious circumstances people does always run to see if he got insurance. When dem bad men did kidnap that big businessman and then dem cut off he head, people find out that just a few months earlier, he tek out a big insurance.
        Some people start fuh think bout people killing de man fuh de insurance money.
        De other day some people kidnap another big businessman. Of course, de police find de businessman dead. Now dem boys checking fuh see if he had a big insurance policy. Dem want to see if is people close to he responsible because once people got big insurance is like people can’t wait to claim.
        Dem see how Brazzy close to Hand in Hand Insurance. He buy shares fuh he buddy. Dem boys want to know if he tek out insurance fuh he buddy and fuh heself.
        A smart man like he would hide de policy. In fact, dem boys seh that he does walk wid it in he briefcase every day because he don’t want he family see how much he insure heself for.
        Dem boys seh that he might got to surrender that same policy fuh pay Ed Ah Mad. De GuySuco land wha Ah Mad get fuh next to nutten at Leonora was to build a wood processing factory. But Ed Ah Mad hold on pun de land fuh a while then decide that he gun sell it out as house lots and mek big big profit. Dem Boys hear through the grape vine that this was arranged with the rat and the fat crook Brazzy.
        Now the story buss out he now claiming that he ain’t know bout no housing scheme. But dem boys know different. He done collect already and he know that he can’t tek back de land.
        He claim that he didn’t know bout de Sanata complex although he sell it fuh next to nutten. That is how some people begin to get real money. Two of dem draw down from Ed Ah Mad even before de land sell. De same two done know bout de plan to sell de land fuh house lots and fuh mek a big profit.
        Hap New done announce that somebody got to explain. But dem boys know that crooks don’t explain nutten. Brazzy still to explain who putting money in de Marriott and although dem boys know he keeping he mouth and he hole shut.
        He trying de same thing wid Ed Ah Mad land—pretend that he ain’t know and then keep he mouth shut.
        Talk half and watch how Brazzy and Donald aint gon do nutten bout dis.

        Posted by mark | April 17, 2014, 1:33 pm
      • This provided URL below, proves jag_De_Ho,_the_the_LYING_ THIEVING_Rat. Close affiliate of the SELF CONFESSED CRIMINAL CONVICT, Edul Ahmad. To sell land for a huge profit, converted from it’s original contracted purposes. Assisted by Winston Brassington and the rest of the CORRUPT_ppp_CRIMINAL_SYNDICATE, BAREFACED THIEVES AND LIARS.

        Posted by mark | April 17, 2014, 9:41 pm
        • This COLLUSION with jag_De_Ho,_the_the_LYING_ THIEVING_Rat and his ‘friends’. To make HUGE-WINDFALL_PROFITS by SWINDLING & RAPING the National Treasury, Consolidated Fund, Tax_Payers Revenues.

          Are most similar to his “bestest_closest_friend & lova_babby”. Where he sold the “Santa_Complex” for ‘next to nothing’ and having him monopolize the Prescription Drugs Contracts. Then selling those same drugs back to the ppp_Government at 1000% mark up profits.

          The other one, was his “friend_buddy”. ‘Loaning’ ‘buddy’ money from the National Treasury to build the ‘buddy’ Hotel & Casino. Now renamed Princess Hotel & Casino . Then sold it for over a $1 million USD profit, just a year later. While the ‘loan’ repayment was reimburse as “room_rentals”, for the ppp_government’s functions, parties and such like.

          Same as the Amaila Falls Hydro Electro project. Where they gave Makeshwar ‘Fip’ Motilall, US$15.4M for the construction of the Amaila Falls Access Road. He never completed it but get to keep that US$15.4M. This man never build even a driveway anywhere in the world in his life.

          Same as the Marriott Hotel. The Cheddie Jagan Airport Expansion. Where only Chinese workers would be employed and Guyanese PROHIBITED from working. Those two MEGA_DOLLAR_KICK_BACK_DEALS especially, were made in SECRET with the Chinese in another country. We only got to know of it, when it was broadcast in foreign media. All those projects would be funded with the National Treasury, Consolidated Fund, Tax_Payers Revenues.

          The Specialty Hospital, the same situation. MEGA_DOLLAR_KICK_BACK_DEALS, made in SECRET. With Indian Companies for quid_pro_quo as an incentive. jag_De_Ho,_the_the_LYING_ THIEVING_Rat was given “honorary_doctorate_degrees”. At the same, those Indian Company gets several thousand acres of virgin Guyana forest, FREE OF COST, to chop down for HUGE PROFIT.

          THESE MEGA_DOLLAR_KICK_BACK_DEALS. ARE JUST THE ‘TIP OF THE ICEBERG’, SO TO SPEAK. OF THE CROOK, jag_De_Ho,_the_the_LYING_ THIEVING_Rat and his ‘friends’. To make HUGE-WINDFALL_PROFITS by SWINDLING & RAPING the National Treasury, Consolidated Fund, Tax_Payers Revenues.

          Posted by mark | April 18, 2014, 12:28 pm
          • This person is a “ppp_card_carry_member”. Even he’s SPEAKING OUT. At LEAST SOME OF THEM GOT SOME SHAME LEFT. He’s got the following to say about HIS_CORRUPT ppp_government …

            From the Diaspora…Stop this Amalia Falls hydro project now

            AUGUST 11, 2013 | BY KNEWS | FILED UNDER NEWS By Ralph Seeram

            A few years ago the U.S. Government implemented a law forcing banks to disclose to borrowers the true cost of loans they are taking out. It is called The Truth in Lending Act. Banks and mortgage brokers hated this because the borrowers would realize in most cases they will be repaying twice the amount borrowed.
            I did some work as a closing agent for banks, and I can tell you that 90% of the time the mortgage broker never attend the signing of the loan documents. They were embarrassed when I would have to disclose to the borrower how much money that has to be repaid. For instance if you borrow $100,000 for 20 years at 8.5% interest you end up paying $164,000 in interest plus the $100,000 making it a total of $264,000 that you repay. It was the bank’s little secret.
            I mention the above because I was reading various reports on the Amaila Falls Hydro Electro project, and it is my firm belief that this project should come to a “dead halt” NOW. There are quite a few things not right about this project. To be honest there is something “fishy”; this contract has the stench of a fish market and the opposition needs to take a strong stand and bring this project to a halt.
            Not only is it too much money, but the way I see it, Guyanese in the near future will be saddled with a serious debt problem, the likes of which can bankrupt the country. This project is too big to continue with so many unanswered questions.
            One of the main benefits of the PPP losing its majority in Parliament is that most of those secret backdoor contracts are now “seeing the light”. Had the PPP won Parliament it would have rammed these contracts “down the throat of Guyanese taxpayers”. Thank God the opposition can to an extent bring a halt to this.
            Let me state that I am no economist, but I know a thing or two about mortgages and amortization of loans. I even had a mortgage broker licence at one time.
            So let’s look at the financing of the Amaila Falls project, and I am assuming the loans are being amortized. My understanding is the Government is borrowing US$500M. I don’t care about the technicalities and accounting trickery, it is the Amaila Falls Hydro Inc. borrowing and GPL paying that I am concerned about. At the end of the day it is the Guyana Government that is going to GUARANTEE the payment no matter “how you twist and turn it”
            So they are borrowing US$500 million at the outrageous interest rate of 8.5% amortized over 20 years. Do you know how much is the interest to be repaid over 20 years? It’s over US$541 million plus repaying the principal or US$500 million so the repayment will be over a BILLION dollars. By the 15th year, GPL would have repaid the US$500M in interest and still owe US$200M.
            In today’s financial markets 8.5% is really at the high end. Kaieteur News has already showed where loans for similar projects were made at less than half of the 8.5%, some made by the very China Exim Bank.
            The bleeding of the GPL doesn’t stop there. There are the investment returns for Sithe Global. Reports say Sithe Global is going to get a whopping 19% return on its investment of US$157M. Do you know that Sithe Global is going to get its US$157M in less than six years, and if it has to be paid for 20 years, it will have a return of US$453M in interest on its investment of US$157M. Put another way, it will receive a total of over US$600M.
            Now tell me who are the idiots that agree to this type of financing? Maybe they are not idiots; maybe the “goody bag” was passed around and everybody got a “piece of the action”, a piece of the pie.
            Brian Kubeck of Sithe Global really thinks Guyanese are “jackasses” to tell them that the company needs 19% return because it is taking the risks. GPL and the Guyanese taxpayers and electricity consumers are at risk here. They have to repay the loan. Besides, insurers take care of risks.
            Another thing that puzzles me is how come Guyanese have to pay the bulk of the loan and Sithe Global has a 60% share? Why create a middle company, why not the Guyana government or GPL taken the loan directly, making them the majority shareholder, maybe Christopher and Anand can explain this.
            Here is the deal; nobody is against hydroelectricity, even critics of the government. What everyone wants is to ensure Guyanese get the best deal possible. This present contract seems to point in the opposite way. It has been pointed out in this newspaper that the cost per megawatt is twice the average cost.
            The way I see it that overpriced projected cost of US$858 M is going to balloon to twice as much, to over US$1.6 BILLION, and I have not even included associated costs that go with loans like lenders fees and insurance costs. If people think electricity rates will go down, they will have a surprise. GPL will have to fork out nearly US$7M a month to service those loans, not counting other overhead costs.
            It may have missed me, but I have not seen any analysis on projected revenues to cover GPL expenses, service the loans and provide cheap electricity.
            Another smelly aspect of this contract is the supply of labour and materials. Any person with “commonsense” will tell you those bullet points on the subject are vague and are escape clauses rather than enforcement with penalty.
            For instance “use reasonable efforts to use materials produced in Guyana etc.” should have been written, SHALL use materials produced etc. etc; same for hiring Guyanese workers, instead of “use reasonable efforts to hire individuals who are Guyanese etc. etc., it should read ‘SHALL hire individuals who are Guyanese etc. etc. and the list goes on. The nonsense that happened at the Marriott Hotel must not be repeated either at the new Timehri Airport or the Amaila Falls project.
            If the government fails to protect the rights of Guyanese workers I can foresee serious industrial actions from Guyanese workers. I have not even gotten into if those Chinese foreign workers will pay tax and NIS.
            By the way, anybody out there knows if those Chinese workers at the Marriott are paying their NIS and P.A.Y.E. contributions? Just asking. Can someone in Government tell the Guyanese taxpayers?
            This Amaila Falls project is a national project; the success or failure would affect Guyanese if it transcends the PPP, APNU or AFC. It is time for the PPP government to realize that this contract as it stands is not in the best interest of Guyanese. It is time to reexamine the contract and financing, it is time for the PPP government to realize that at this stage it is not about showing the opposition the contract at this late stage, it’s about getting consensus from all the various experts, be it Anand Goolsarran, Christopher Ram, Clive Thomas, Janette Bulkan, ( I know the PPP sees them as critics but they still have a contribution to make) various stakeholders and international experts, to satisfy the taxpayers that they will value for their hard earned money.
            It is time for a truly independent body to review the entire project. If the PPP goes ahead with this project as it is I can foresee serious legal actions to stop the project, the opposition parties would be justified in taking such actions on behalf of the Guyanese taxpayers.

            Ralph Seeram can be reached at email: ralph365@hotmail.com

            Posted by mark | April 18, 2014, 12:34 pm
            • This from another “ppp_card_carry_member”, Mr. Ralph Ramkarran.. Not just an ordinary ppp_member but an EXECUTIVE_CENTRAL COMMITTEE_ppp_MEMBER. From where “the_gang_of_eight_dominates. Whom wants THE CROOK, jag_De_Ho,_the_the_LYING_THIEVING_Rat, for president for a third term.

              This is what he has to say …

              THE KLEPTOCRATIC REPUBLIC OF GUYANA Posted on June 23, 2013 by Ralph Ramkarran

              Since the last elections several revelations have emerged of corrupt, and even potentially criminal, activities by persons currently or previously associated with the PPP and who have friends in the leadership or access thereto. Corruption has become so pervasive that it is no longer possible to keep the evidence away from the Press and the Police. And most important, none of them have come to light as a result of any action initiated by the Government without prior exposure. It is now clear that the adamancy of the Government and the PPP in refusing to acknowledge the level of corruption in the society, and to do something about it, is linked to where the corruption is located. It is not known whether Government spokespersons are still so blind about corruption that they are still asking, where is the evidence? Guyana will soon qualify as The Kleptocratic Republic of Guyana.

              An important clarification needs to be made. There are thousands of public servants, businessmen, contractors and others who perform services of a high quality with dedication and integrity. In any discussion on the issue of corruption they must always be acknowledged.

              When the PPP came to office in 1992 Cheddi Jagan perceptively suggested the creation of Community Development Committees (CDC). Party Groups and District Committees were given the task of establishing these but they were to comprise members of the community and their initial functions involved the monitoring of contracts as an exercise in popular democracy. They were to be given copies of contracts so that the works could be measured and approved and not left to engineers alone. A Government agency was established to assist the establishment of these CDCs and to ensure that they function. After 1997 the State’s interest in the CDCs began to wane and eventually withered.

              Even though the intention was not clearly articulated at the time, the CDCs would have assisted in the transformation of the functioning of Party Groups and Bodies whose roles had to be reassessed in view of the collapse of socialism and the attainment of office by the Party. At the same time Cheddi Jagan must have understood the great danger of the emergence of corruption which he had been fighting vehemently during the PNC years. At the same time, the focus of Party Groups needed to be shifted to development and service issues so as to keep their activities relevant to the new situation. All of that has now collapsed in the scramble which was allowed to develop for jobs, gun licences, house lots and contracts.

              It is not known what percentage of roads, bridges, buildings and other infrastructure works are badly done. The complaints are plentiful. And it is not merely that the contractors are dishonest. They tell you openly that if they have to bribe so many officials, then there is not enough to spend on the works to complete them in accordance with the contracts and to make a profit for themselves at the same time. Of course, they willingly collaborate with this state of affairs. This situation is a direct result of the failure of the PPP build on the work of Cheddi Jagan and to deal with corruption. Many of these contractors, businessmen and suppliers of goods and services have close links with the PPP, including members of the leadership.

              The other group consists of bureaucrats. Lest some of these protest that they are being unfairly maligned, the range of bureaucrats is not listed here. Many bureaucrats are dedicated and honest. But many others are corrupt. These bureaucrats are usually in charge of funds, contracts, supplies and they easily maneouvre around the regulations to enable them to perpetrate their corrupt deeds. They utilize their positions to manipulate contracts so that the rewards go to them directly or through surrogates. They establish companies with their friends or relatives and steer the contracts to these companies. This is a well known practice that is widely engaged in. They also have friends in the Party leadership or access thereto.

              Above all of these is a group of wealthy and influential businessmen who have high political connections. They meet regularly to examine business opportunities and potential deals and map out strategies as to how their plans can go forward, and implement those plans. They have access, through their political connections, to information of the potential opportunities that are likely to emerge in the near to medium term and are in a position to make the investments now so as to cash in on those opportunities down the road.

              The PPP leadership is supported and financed by all of these groups and state decisions are influenced by their interests. The PPP is no longer motivated by working class ideology although it still clings to its historical connections. The reason why the Public Procurement Commission, a vital instrument in the struggle against corruption, will never be established is that the PPP is a political organization that now represents a section of the petit bourgeoisie, those three parts of which are described above, whose interests are antagonistic to those of the working class and conflict with acceptable standards of integrity.

              Posted by mark | April 18, 2014, 12:47 pm
    • EDUL AHMAD and His WIFE PLEADED GUILTY to ROBBING $500M IN REAL ESTATE and MORTGAGE FRAUD, AHMAD AND HIS BROTHER OWN 45 SHELL COMPANIES.

      Posted by Aubrey | April 26, 2014, 2:50 pm
    • ED has been robbing poor people on real estate and mortgage deals for 20 years, Jagdeo got $100M from the Leonora LAND DEAL.

      Posted by Nicole | May 17, 2014, 9:52 am
  2. Ed Ahmad land deal…Investigate all state assets sold by NICIL under Jagdeo’s presidency – AFC

    APRIL 20, 2014 | BY KNEWS | FILED UNDER NEWS

    “No one doubts that in the Bharrat Jagdeo terms, the patrimony of our state has been hived off to friends and cronies in an unparalleled frenzy of nepotism and favoritism.”
    A Parliamentary Opposition party is urging Government to swiftly convene a Commission of Inquiry (COI) by natural resources experts to investigate the distribution of state lands, spectrum use and frequency access, and lease of forestry/mineral concessions in Guyana under successive post-Jagan regimes.
    Edul Ahmad
    Edul Ahmad
    This is according to Vice Chairman of the Alliance for Change (AFC), Moses Nagamootoo, who in a brief interview with this publication made the call and said that an investigation must firstly produce an inventory of state assets transferred to National Industrial and Commercial Investments Limited (NICIL) along with the proceeds received from their sale.
    When President Donald Ramotar came to office in 2011 he promised full disclosure on the deals but the document which was prepared by NICIL’s Executive Director, Winston Brassington, had been criticized by many experts as designed to disguise the transactions made by NICIL.
    According to Nagamootoo, “No one doubts that in the Bharrat Jagdeo terms, the patrimony of our state has been hived off to friends and cronies in an unparalleled frenzy of nepotism and favoritism.”
    Nagamootoo said that NICIL cannot easily wash its hands of these deals and the Leonora scheme is just one questionable transaction.
    The Leonora deal referenced by Nagamootoo, involves land purchased by Jagdeo’s close associate who has been indicted in the US over financial crimes.
    Edul Ahmad, the foreign-based businessman bought over 16 acres of prime land from the Guyana Sugar Corporation (GuySuCo) through NICIL.
    It is reported that Ahmad now stands to make profits of over $600M when he converts the property for which he paid a mere $80M, to a housing scheme, inclusive of a shopping mall, full gas and service station and facilities to house two banks.
    According to Nagamootoo, “Sugar workers have not been allowed to indicate an interest to either buy the lands on which the sweat and blood of their parents have been buried with their bones, or to cultivate through peasant cane farming cooperatives.”
    Nagamootoo insists that Government must produce a comprehensive land use policy after wide consultation, so that lands allocated for industrial development are not converted into exclusive housing schemes in ad hoc deals.
    Bharrat Jagdeo
    “We need a working democracy not an opportunistic ad hocracy…I feel that the hammer ought not fall on the head of Ed Ahmad but on NICIL and GuySuCo for yet another sell out scandal.”
    Following reportage on the questionable land deal with Ed Ahmad, NICIL denied any knowledge that the portion of the land sold to New York-based Guyanese Edul Ahmad is being converted into house lots.
    NICIL claims that it only acted as an agent when the transaction was done between Ahmad and GuySuCo and according to the agreement, the land at Plantation Groenveldt on the West Coast of Demerara could be converted to a shopping mall once the wood processing plant is the first structure on the property.
    NICIL said that GuySuCo entered into a Restrictive Covenant as set out in the terms and conditions of the sale, published in the Vesting Order, effecting the transfer of title, that “the property shall not be used for any other purpose other than for the construction and operation of a wood processing facility with the option of future development in manufacturing, industrial and commercial activities including the construction and operation of a shopping mall, providing that the construction of the wood processing facility is commenced first” and that construction of the wood processing facility commences within one year of the agreement.
    NICIL also defended the selling price that GuySuCo’s land was subjected to two prior bids when in 2003, the highest valid bid amounted to $30M and in 2004, no bids were received for the property.
    NICIL and Brassington, over the years under the Bharrat Jagdeo tenure, has come in for intense criticism and calls for investigation over some of the deals it has made.
    On such gained widespread notoriety that was called the “deal that stinks to high heavens,” is that involving Jagdeo’s best friend Dr. Ranjisinghi ‘Bobby’ Ramroop when NICIL sold his company Queens Atlantic Investment Inc (QAII), the Sanata Complex.
    Brassington, Jagdeo and Dr. Ramroop had also come under intense scrutiny over the sale of the Guyana Pharmaceutical Company along with the Government’s subsequent drug purchasing policy after the deal.
    Moses Nagamootoo
    Ahmad is also no stranger to negative publicity. He was charged by US Federal authorities for his involvement in a massive fraud scheme and in 2012, he entered a plea deal with US agents, and was found guilty of knowingly and intentionally conspiring to defraud several lending institutions over a 15-year period.

    Posted by mark | April 20, 2014, 8:03 am
  3. I think ED AHMAD should get a Presidential Pardon from the O’ BAMA administration. I am a theatre student at Hunter College(nyc). I can get him to play in a modern version of “Death of a Salesman” set on Liberty Avenue. He can play Willy.

    Posted by John Gille | October 26, 2014, 4:23 pm

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NEW BUILDING SOCIETY GUYANA NEEDS AN IN DEPTH FORENSIC AUDIT & INVESTIGATION

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