Namvar Partner Pleads Not Guilty In $23M Fraud Case

Law360, New York (September 30, 2010, 12:36 PM EDT) -- The business partner of Los Angeles real estate tycoon Ezri Namvar has denied charges that he was involved in a scheme to shift $23 million in client funds to pay off creditors of another bankrupt company controlled by Namvar.

Hamid Tabatabai was arraigned and pled not guilty at a hearing Tuesday in the U.S. District Court for the Central District of California.

Tabatabai and Namvar were each charged with five counts of wire fraud on Sept. 21 for allegedly stealing about $23 million from five clients...
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