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.
More top news
Steve Bruce has been accused of trying to "defend the indefensible" over Maynor Figueroa's tackle on Stephen Ireland.
Former Leeds and Sheffield United midfielder Chris Kamara says that people are more willing to report racist incidents in sport.
Five men have been jailed for a total of 22 years for their involvement in a series of ATM ram raids across the region in 2012.