Guyana Anti Corruption Network

**FOR IMMEDIATE RELEASE**

### U.S. Doctor Sold New York Property to Sitting Guyanese Official in Cash-Only Deal, GACN Investigation Reveals

**GEORGETOWN, Guyana** – The Guyana Anti-Corruption Network (GACN) is calling for a comprehensive, independent investigation following a review of asset acquisitions and financial transactions involving New York-based developer Dr. Phillip Baldeo. Public records and investigative reports reveal a pattern of questionable land deals in Guyana and simultaneous high-value property transfers in the United States involving senior Guyanese public officials ([1](https://kaieteurnewsonline.com/2025/02/06/documents-surface-showing-acquisition-of-new-york-properties-by-sherwyn-greaves/)).

Dr. Baldeo, a physician and real estate investor, has confirmed acquiring significant tracts of prime land in Guyana, including approximately **30 acres from the Central Housing and Planning Authority (CH&PA) for over USD $2.8 million**, as well as properties along the Heroes Highway valued at approximately **USD $10 million** ([2](https://kaieteurnewsonline.com/2025/02/05/new-york-doctor-claims-he-doesnt-know-investing-money-with-ed-ahmad-is-illegal/)). While Dr. Baldeo maintains these were legitimate market-rate purchases, questions persist regarding the transactions and his business associations.

**Key Findings by GACN:**

– **Political Connections and Meeting with Former President:** A reliable source has alleged that years ago, a former President of Guyana held a private meeting with Dr. Baldeo at the Pegasus Hotel, after which they toured East Bank land where a USD $2.8 million development deal was reportedly agreed upon. Investigative reports suggest the payment for this deal was not routed through the CH&PA as required ([3](https://inewsguyana.com/socu-forfeited-10m-from-businessman-involved-in-kickback-for-sale-of-land/)).

– **Direct Property Transfer to CH&PA CEO:** Dr. Baldeo, as sole owner of Liberty Avenue Associates LLC, sold a New York property for **USD $925,000** in March 2024. The property was purchased by an LLC owned by Mishana Greaves and later transferred into a trust shared with **Sherwyn Greaves**, who was then serving as CEO of the CH&PA ([1](https://kaieteurnewsonline.com/2025/02/06/documents-surface-showing-acquisition-of-new-york-properties-by-sherwyn-greaves/)). Notably, the sale was conducted as a cash transaction with **no mortgage issued**, reportedly at **below market value** ([1](https://kaieteurnewsonline.com/2025/02/06/documents-surface-showing-acquisition-of-new-york-properties-by-sherwyn-greaves/)). Mr. Greaves has since resigned from the CH&PA, citing mental health strain from public scrutiny.

– **Income vs. Assets Discrepancy:** Public records indicate that the properties acquired by Sherwyn Greaves in New York are valued at over USD $1.675 million ([1](https://kaieteurnewsonline.com/2025/02/06/documents-surface-showing-acquisition-of-new-york-properties-by-sherwyn-greaves/)). This figure significantly exceeds the known salary of the CH&PA CEO position, which is approximately $1.5 million Guyanese dollars per month, raising serious questions about the source of funds used for these acquisitions. While Vice President Bharrat Jagdeo has stated that Mr. Greaves assured the government the funds were “clean,” GACN notes that no public evidence has been provided to substantiate this claim ([4](https://kaieteurnewsonline.com/2025/02/07/greaves-tells-govt-clean-money-used-to-acquire-new-york-properties-jagdeo/)).

– **Business Association with Convicted Felon:** Dr. Baldeo has acknowledged a long-standing friendship and business relationship with **Ed Ahmad**, a U.S.-based Guyanese businessman who was **convicted in the United States for mortgage fraud** and served time in prison ([2](https://kaieteurnewsonline.com/2025/02/05/new-york-doctor-claims-he-doesnt-know-investing-money-with-ed-ahmad-is-illegal/), [6](https://amsterdamnews.com/news/2013/01/31/feds-zooming-in-on-caribbean-networks/)). When questioned, Dr. Baldeo claimed he was unaware that investing with Mr. Ahmad was illegal, stating he would withdraw his funds if legal issues were confirmed ([2](https://kaieteurnewsonline.com/2025/02/05/new-york-doctor-claims-he-doesnt-know-investing-money-with-ed-ahmad-is-illegal/)). Dr. Baldeo also confirmed investing with a company Mr. Ahmad was part of, which is linked to land acquisitions at Ogle ([2](https://kaieteurnewsonline.com/2025/02/05/new-york-doctor-claims-he-doesnt-know-investing-money-with-ed-ahmad-is-illegal/)).

– **Infrastructure Funding Dispute:** While Dr. Baldeo has publicly claimed he personally funded infrastructure development for a housing project from his U.S. medical and real estate income, investigative sources allege that **Guyana’s taxpayer money** was ultimately used to complete the work, with at least **17 different contractors** hired for the job following a court ruling ([5](https://www.kaieteurnewsonline.com/2024/06/06/what-is-the-president-going-to-do/)).

– **False Claim of Political Contact:** Dr. Baldeo stated in a televised interview that he had been in contact with former Minister Ronald Bulkan regarding a housing proposal. Mr. Bulkan has since issued a public statement categorically denying ever meeting or speaking with Dr. Baldeo, calling the claim a “false” and “clumsy attempt” to link him to questionable conduct.

The confluence of below-market land sales in Guyana, high-value cash property purchases in New York involving a sitting public official, and a business partnership with a convicted fraudster presents a pattern that demands urgent scrutiny. GACN is concerned that these transactions may represent an abuse of office or a conduit for the proceeds of corruption.

GACN reiterates its call for President Irfaan Ali to launch a **full, independent, and transparent presidential inquiry** into all land sales conducted by the CH&PA since 2020, and specifically into the overseas asset acquisitions of all politically exposed persons connected to these deals. The people of Guyana deserve assurances that their state assets are not being liquidated for private gain.

END###

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### References

1. [Kaieteur News Online. (2025, February 6). *Documents surface showing acquisition of New York properties by Sherwyn Greaves*.](https://kaieteurnewsonline.com/2025/02/06/documents-surface-showing-acquisition-of-new-york-properties-by-sherwyn-greaves/)
2. [Kaieteur News Online. (2025, February 5). *New York doctor claims he doesn’t know investing money with Ed Ahmad is illegal*.](https://kaieteurnewsonline.com/2025/02/05/new-york-doctor-claims-he-doesnt-know-investing-money-with-ed-ahmad-is-illegal/)
3. [INews Guyana. (2024, July 18). *SOCU forfeited $10M from businessman involved in ‘kickback’ for sale of land*.](https://inewsguyana.com/socu-forfeited-10m-from-businessman-involved-in-kickback-for-sale-of-land/)
4. [Kaieteur News Online. (2025, February 7). *Greaves tells Govt ‘clean money’ used to acquire New York properties- Jagdeo*.](https://kaieteurnewsonline.com/2025/02/07/greaves-tells-govt-clean-money-used-to-acquire-new-york-properties-jagdeo/)
5. [Kaieteur News Online. (2024, June 6). *What is the President going to do?* [Letter to the Editor].](https://www.kaieteurnewsonline.com/2024/06/06/what-is-the-president-going-to-do/)
6. [New York Amsterdam News. (2013, January 31). *Feds zooming in on Caribbean networks*.](https://amsterdamnews.com/news/2013/01/31/feds-zooming-in-on-caribbean-networks/)
7. [Crain’s New York Business. (2012, October 28). *Local pols under fire: What’s the matter with SE Queens?*](https://www.crainsnewyork.com/article/20121028/POLITICS/310289969/local-pols-under-fire-what-s-the-matter-with-se-queens)