Calif. Real Estate Tycoon Convicted For $21M Fraud

Law360, Los Angeles (May 19, 2011, 6:19 PM EDT) -- A California federal jury on Thursday convicted a Los Angeles real estate tycoon and his company’s controller of four counts each of wire fraud in a scheme to defraud clients by siphoning $21 million from tax deferral accounts.

Prosecutors told jurors that Ezri Namvar, the owner of a company that held proceeds from real estate transactions, and co-defendant Hamid Tabatabai, the company's controller, committed wire fraud when they lured clients with promises their money would be safe in tax deferral accounts, then used the money to...
To view the full article, register now.



Case Information

Case Title

USA v. Namvar et al

Case Number



California Central

Nature of Suit

Date Filed

September 21, 2010

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.