Authorities Sell Greenwich Mansion For $7.35M To Enforce Fugitive’s Bond: Feds

GREENWICH, CT — Authorities have sold a Greenwich mansion for $7.35 million to enforce the appearance bond for a man who fled to India over 10 years ago, according to a news release from U.S. Attorney for the state of Massachusetts Leah Foley.

In April 2015, Iftikar Ahmed was charged with one count of securities fraud, according to Foley.

Ahmed was released from pre-trial custody subject to conditions, including that he and his wife, as sureties, sign a $9 million appearance bond secured by their Greenwich home, which they did, Foley noted.

But in May 2015, Ahmed violated the conditions of his release by fleeing to India and he has remained at-large ever since, Foley said.

"There are serious consequences for evading justice," Foley said. "An appearance bond is not simply a procedural formality; its purpose is to deter defendants from violating conditions of their release and ensure they appear in court to face their charges. Those who contemplate fleeing should know that my office will doggedly seek to find them and enforce their bond obligations."

The U.S. began the process to enforce Ahmed's appearance bond in May 2019, and the bond was later declared forfeited.

Default judgment was entered and was affirmed on appeal, Foley said, noting a petition for remission was denied and, pursuant to appearance bond documents signed by Ahmed and his wife, the court tendered the deed to the U.S. and ownership was transferred.

Pursuant to a court order, the U.S. Attorney’s Office listed the property for sale on July 15.