Dem Failed To Disclose $40K Loan From Man Who Pleaded Guilty To $50M Mortgage Fraud, Ethics Committee Finds

By Craig Bannister | December 20, 2012 | 1:43pm EST

The House Ethics Committee has unanimously determined that Rep. Gregory Meeks (D-NY) failed to disclose a $40,00 loan from Edul Ahmad as a liability on his 2007, 2008, and 2009 Financial Disclosure Statements.

The Committee was unable to find "credible evidence" that the errors were knowing or willful and, as Meeks has corrected the errors and omissions in his Financial Disclosure Statements, no further action by the committee will be taken.

The Committee also decided to close its investigation into allegation that no loan document existed and that Rep. Meeks received an improper gift from Mr. Ahmad.

Rep. Meeks "has consistently represented" that a loan document containing loan terms existed - but, that he "has misplaced it."

But, Ahmad's attorneys insist that no such loan document ever existed.

Ahmad - who has pleaded guilty to $50 million of mortgage fraud in an unrelated federal criminal case - will not testify unless the Committee gives him immunity from criminal prosecution.

"Considering the highly compromised credibility of Mr. Ahmad" and lack of evidence, the Committee decided to close its investigation regarding the allegation Meeks received an improper gift.

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