U.S. Enforces Fugitive's Appearance Bond By Selling Greenwich Mansion for $7.35 Million

BOSTON – United States Attorney Leah B. Foley announced today that her office enforced the appearance bond for fugitive defendant Iftikar Ahmed by selling his Greenwich, Conn., mansion for $7.35 million.  

In April 2015, Ahmed was charged with one count of securities fraud. He 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, Conn., residence, which they did. At some time in May 2015, Ahmed violated his conditions of release by fleeing to India and has remained at-large ever since.

“There are serious consequences for evading justice,” said U.S. Attorney Foley. “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.”

In May 2019, the government commenced proceedings to enforce Ahmed’s appearance bond. After the bond was declared forfeited, default judgment was entered and was affirmed on appeal. 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 United States and ownership was transferred. Pursuant to a court order, the United States Attorney’s Office listed the property for sale and on July 15, 2025, the house sale closed at a price of $7.35 million.  

United States Attorney Leah B. Foley made the announcement today. The bond forfeiture action was handled by Assistant U.S. Attorney Carol E. Head, Chief of the Asset Recovery Unit.  Valuable assistance was provided by the United States Marshals Service in the Districts of Massachusetts and Connecticut.