Former Deputy Ohio Treasurer Amer Ahmad pleaded guilty on Monday in U.S. District Court to conspiracy and bribery charges for his role setting up his high school classmate to make $3.2 million in trading commissions off the state in exchange for $523,000 in kickbacks.
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Timeline of the Amer Ahmad case:
May 2008: Democrat Richard Cordray hires Ahmad as CFO in the state treasurer’s office.
January 2009: Democrat Kevin Boyce is sworn in as treasurer.
Feb 27, 2009: Boyce promotes Ahmad to deputy treasurer.
July 2009: Ahmad recommends that his high school classmate Doug Hampton be included on the state’s approved broker list.
Nov. 15, 2009: Amer Ahmad buys a 44 percent stake in Going Green Landscaping, which is owned by Joseph Chiavaroli.
Dec. 17, 2009: Hampton pays $123,622 to Noure Alo, an immigration attorney and Ahmad friend.
Dec. 24, 2009: Ahmad authors an investment strategy that calls for multiple daily trades and names seven core traders, including Hampton.
Jan. 4, 2010: Alo’s wife Walaa Waeda starts as secretary to Ahmad.
March 29, 2010: Alo’s client, State Street Bank, wins the custodial bank contract to oversee more than $20 billion invested around the world.
March 30, 2010: Hampton transfers $100,000 to Going Green Landscaping.
May 23, 2010: Dayton Daily News publishes story about the relationship between Ahmad and Alo and the banking contracts.
August 28, 2010: Hampton issues a $300,000 check to Going Green Landscaping.
November 2010: Incumbent Treasurer Kevin Boyce loses the election to Republican challenger Josh Mandel.
January 2011: The FBI subpoenas records from the treasurer’s office.
May 2011: Ahmad becomes comptroller for city of Chicago.
Dec. 2, 2011: FBI sends a second subpoena to the treasurer’s office, seeking investment trading documents.
July 2013: Ahmad resigns as comptroller for Chicago.
Aug. 19, 2013: Ahmad pleads not guilty to federal bribery, wire fraud, money laundering, conspiracy and other charges in U.S. District Court in Columbus. Hampton and Chiavaroli plead guilty and agree to assist investigators.
Dec. 20, 2013: Alo pleads guilty to aiding and abetting wire fraud.
Dec. 23, 2013: Ahmad pleads guilty to conspiracy to commit wire fraud, bribery and money laundering and guilty to bribery.
Unmatched political coverage
In May 2010, our Columbus bureau raised questions about personal ties between then deputy Ohio Treasurer Amer Ahmad and Noure Alo, an immigration attorney hired by Boston-based State Street Bank to act as its lobbyist to help land a lucrative state contract. Those stories led the FBI to begin investigating Ahmad, Alo and the treasurer’s office and the discovery of a separate illegal scheme which resulted in criminal convictions.