Lord Ahmed added that he did not "really have any explanation or excuse" for why he made the comments and said he was "embarrassed".
I only believe in facts and to be honest I should have stuck with the facts rather than with conspiracy theories.
According to the website he also apologised for embarrassing Labour leader Ed Miliband.
He's of the Jewish faith and I'm sorry that I embarrassed him - or anybody else in the Labour Party. I'm particularly sorry to all my colleagues in the House of Lords and in the House of Commons because one thing many of them know is that I'm not anti-Semitic or a conspiracy theorist.
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Emma brings you Sunday's forecast for South Yorkshire and Lincolnshire
Emma brings you Sunday's forecast for North, South, West Yorkshire
Very windy and mild with some rain at times