Ahmed and his wife Shalini Ahmed, whom he met while working at Goldman Sachs in 1999, owned a mansion in Connecticut and two Park Avenue apartments in Manhattan. He landed a partnership at a prestigious venture capital firm, Oak Investment Partners, in 2004, and allegedly began stealing from the firm within months, reported The Wall Street Journal.
No one noticed until Ahmed was arrested on unrelated insider-trading charges. Prosecutors now allege he stole $65 million over time by fudging numbers and exchange rates and then siphoning some of the money into secret bank accounts. In December he allegedly convinced his partners to pay $20 million for an investment worth $2 million, and then stole the difference.
Shalini told a court she was stunned by the allegations against him, and assumed the $18 million check he gave her in January was par for the course. “I understand it’s a lot of money,” she said. “But…a partner at a venture-capital firm like Oak is like a partner at Goldman Sachs.”
Ahmed was arrested in May and surrendered his U.S. and Indian passports, but fled the country that same month using an expired passport — he faces up to 20 years in prison if he’s convicted of insider trading.
His lawyer told TheWSJ he returned to India, where he was imprisoned briefly for allegedly entering the country illegally. Ahmed will need permission to leave again.
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