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...
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Case Information

Case Title

USA v. Namvar et al


Case Number

2:10-cr-01055

Court

California Central

Nature of Suit

Date Filed

September 21, 2010

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