Businessman, Dr. Terrence Campbell, has formally requested an investigation by the United States Department of Justice (DOJ) into the 2023 purchase of a US$770,000 New York property by Sherwyn Greaves, former Chief Executive Officer of the Central Housing and Planning Authority (CH&PA) in Guyana. In his report to the DOJ, Campbell suggests the purchase may be linked to potential violations of the U.S. Foreign Corrupt Practices Act (FCPA) and raises concerns about possible corruption and money laundering.
The property, situated at 11530 142nd Street, Jamaica, New York, was allegedly sold to Greaves by Reliable Custom Builders Inc., a company with ties to controversial businessman Edul ‘Ed’ Ahmad, a convicted mortgage fraudster. Ahmad, who has connections with high-ranking government officials in Guyana, including Vice President Bharrat Jagdeo, was previously convicted in the U.S. for a mortgage fraud scheme.
Campbell contends that the deal may be a “quid pro quo,” with Greaves receiving favourable treatment or privileges in return for the purchase of the property. He points out that the sale appeared to be private, as the property was not listed for sale on public real estate platforms, raising suspicions of an off-market transaction.
Campbell is requesting that the DOJ investigate the circumstances of the sale and the broader activities of Ahmad and his family, including their involvement in land deals with the Guyanese government.
“It appears the property was purchased without a mortgage, which raises serious questions of corruption and money laundering,” Campbell said in an interview with Stabroek News on Tuesday. “Violations of the FCPA are usually taken very seriously by the DOJ. I hope they will look into this matter.”
Campbell also referenced Ahmad’s recent involvement in a land deal with the CH&PA. Ahmad, through his company New Global Investment Incorporated, purchased prime commercial land from the CH&PA, which was managed by Greaves before his sudden resignation earlier this week. The deal, finalised in July 2023, raised concerns due to the favourable pricing and the lack of transparency regarding the process.
On his Facebook page, Campbell posted a detailed report, linking the two transactions and questioning the integrity of the deals. “Evidence has surfaced that Reliable Custom Builders Inc., represented by Rashaad Ahmad, sold the property to Sherwyn Greaves,” Campbell wrote. “If Greaves is indeed the same person as the [former] CEO of CH&PA, then it would suggest the sale was a quid pro quo, with favours granted in Guyana in violation of the FCPA.” Greaves resigned Monday, February 3, prompting speculation his resignation was the result of Campbell’s request to the DOJ.
In addition to the property sale, Campbell highlighted that there are ongoing concerns about the government’s land transactions, particularly with regard to prime property in Georgetown.
Critics have raised alarms that well-connected businessmen are securing land deals through questionable means, with the government in control of bid evaluation processes and the national tender board.
Meanwhile, Sheriff Holdings, a local company, issued a statement distancing itself from Ed Ahmad, denying any business or personal ties to the controversial figure. This followed questions from political leaders about land deals involving the Ahmad family.
In response to the allegations, the CH&PA issued a statement defending the transparency of its land sales process. The agency insisted that all transactions are conducted in accordance with established protocols and that there are no preferential rates for specific individuals or companies.
However, Campbell remains unconvinced, stressing the need for a full investigation into both the property sale and the wider activities of the Ahmad family in Guyana. He argues that the alleged connection between the sale of the property and Greaves’ role at the CH&PA raises serious concerns about corruption and misuse of power.
As society awaits DOJ consideration of Campbell’s request for an investigation, questions surrounding the integrity of government transactions and the involvement of politically connected businessmen in Guyana continue to grow.
