California Real Estate Fraud Report

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Ezri Namvar Sentenced to Prison

Ezri Namvar, once a well-known investor in the Los Angeles Iranian community, has been sentenced to seven years in federal prison after being convicted of wire fraud.

Namvar owned a company called Namco Financial Exchange Corp., the purpose of which was to hold the monies from commercial real property sales until his clients could reinvest the money, saving them from pay taxes on the sales.

The prosecution and an attorney representing many of the investors charged that Namvar diverted millions of those funds to pay creditors of another company he owned. Namvar’s attorney, Marc S. Harris, countered that the investors knew how their funds were being used and approved.

Namco Capital Group Inc.,  one of Ezri Namvar’s other businesses, is the focus of claims by other investors, whose voices are being heard in U.S. Bankruptcy Court.

Read the original article in the Los Angeles Times.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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