Home Politics Former state deputy treasurer Amer Ahmad indicted for bribery

Former state deputy treasurer Amer Ahmad indicted for bribery

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A former state treasurer deputy was indicted for bribery, wire fraud, and conspiracy to launder money.

Amer Ahmad worked as a key adviser to former Ohio treasurer Kevin Boyce. While working for Boyce, Ahmad was appointed as the Chief Financial Adviser of the Treasurer of the State of Ohio (TOS). The TOS is an Investments Department that is responsible for managing the state’s multi-billion dollar investment portfolios.

The Federal Courts of Ohio accuse Ahmad of using his political pool while working with the TOS to benefit his longtime high school friend and financial advisor, Douglas Hampton. Hampton provided Ahmad, and a company within his control, money and other things of value in exchange for Ahmad’s influence in the Treasurer’s office.

Prosecutors allege that Ahmad’s and Hampton’s crimes served to enrich themselves by using Ahmad’s position to secure lucrative state business for Hampton in exchange for monetary exchanges, while purposely concealing their misconduct.

Ahmad designated Hampton as the authorized broker to administer a series of lucrative security trades on behalf of the TOS. Not only did Hamilton receive more business than any other approved TOS broker as a result of Ahmad’s act, but a significant increase in commission.

Hampton received approximately over $3 million in commission from trading on behalf of the TOS. For Ahmad’s help, Hampton made payments to Ahmad totaling approximately $400,000 disguised as “loans” to a business, Going Green Landscapes and Lawn Care, which is partly controlled by Ahmad.

Ahmad concealed his crimes by instructing subordinates at the TOS’s Investment Departments to conceal his involvement with Hampton’s security trades documented in paperwork at his discretion.

In addition, Ahmad withheld information from the Ohio Secretary of State and the Ohio Ethics Commission about his ownership of Going Green Landscapes and Lawn Care. Ahmad deliberately did not disclose to Going Green Landscapes and Lawn Care employees and other investors Hampton’s involvement of permeating money into Going Green Landscape and Lawn Care bank accounts.

State Treasurer Josh Mandel ordered an internal review of all business done by Ahmad to investigate his misconduct further after discovering news of the indictments. The full analysis will attempt to find any additional evidence.

“The alleged conduct of Amer Ahmad from the previous Treasurer’s administration is deeply concerning.  On behalf of Ohio taxpayers, we hope that he and the others involved are brought to justice.” said Chris Berry, a spokesperson for the Treasurer’s office.

 

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