Once a pillar of the local Iranian Jewish community, businessman and philanthropist Ezri Namvar was a trusted friend to whom many in the community loaned money freely and without fear. Namvar’s reputation, which has been tarnished during the last several years, was dealt another blow on May 19, when Namvar, 59, was convicted on four counts of wire fraud in a downtown Los Angeles federal court.
Los Angeles Iranian Jewish banker and real estate investor Ezri Namvar, 59, was indicted on Sept. 21 by a federal grand jury on five counts of fraud. The charges allege he failed to return $23 million given for safekeeping to his company, Namco Financial Exchange Corp. (NFE), and instead invested the money in risky real estate deals.
Trusted friend of the community on hot spot as fight over lost $400 million begins