Ezri Namvar, The 'Bernie Madoff of Beverly Hills,' Faces Up To 10 Years In Prison

Musician

Why are the articles so biased? This is the worse site I've come across regarding this whole fiasco...And you guys call yourself "The Informer"? Get the info right before you inform, you think?

Edsel

Edsel

Great to know the -- in depth from this blog.This will really help for my forward steps to be taken.

Interested Sefeed

Much like Al Capone who was put away for tax evasion, not murder and bootlegging, Ezri will be taken down for putting his greedy hands in the 1031 cookie jar as this was this easiest for the Feds to prove. Being in an orange jumpsuit for as long as possible is needed so he can not prey yet again on the ignorant fools who still believe he was a genius.

Even if he is given some leniency, Ezri will need to focus on his battles with the IRS which will last a life time. Have pity on the widows and eldery whom he took advantage, not this poor soul.

Trojan

shame on all Namvar brothers for doing what they did. Before all this happened, they were so called Namvar brothers, but now, it's only Ezri Namvar. Where is all the money? the other brothers have it. They should be arrested too.

Ebrahim

Ezri Namvar is neither a liar nor a theif.

Many people still believe in him and believe he is an honest and decent man. He got over 500 positive letters from friends, community members and family to send to the judge. Of course, only a small portion was allowed to be read. Such a pour of sorrow and prayer for his well being was what he was used to and has been getting these past years. Don't be fooled by articles that don't tell the truth and don't represent the majority. Many people still hope he will be able to work and get back on his feet.

The legalities of what a crazy judge decides is not the representation of the wishes of a whole community. It is only a minor part and what ever the outcome on Oct 11, Ezri Namvar has much SUPPORT from many people. Our community has been hurt not by only this disaster but the WHOLE ECONOMIC DOWNFALL IN THE PAST YEARS IN THE UNITED STATES. Everyone deserves a second chance and everyone deserves to give another person as second chance. No one person is perfect or is perfect in his deeds. Ezri Namvar just got caught up as an example. Those who did get their money back know that his intent was always pure.

SAM

Hah, Hah, this article is too ridiculous to take seriously. His first paragraph is so misguided and misconstrued information that you can't help but laugh about the journalism skills of Gene Maddaus. You can tell he obviously is not known to do ANY RESEARCH before writing. No wonder he was fired from six (6) different newpapers before somebody hired him.

where does he come up with $1billion loss for namvar victims? I know it did not come from the trustees report because anyone can publically go and check that out on the website. As for never paying creditor's back, he failed to do his research that Mr. Ezri Namvar paid 2/3 of his creditors back up to $200 million dollars in his debt BEFORE AND UP TO BANKRUPTCY FILING. BUT THE TRUSTEE FILED 140 Lawsuits to get monies back from the creditors who were already paid by Ezri Namvar because it fell in the 3month period that they were paid before Ezri Namvar was FORCED INTO INVOLUNTARY BANKRUPTCY by EBI ASSIL. So technically, he only owed about $100 million dollars which he would have paid with his $1billion dollars in assets. But of course, anger, frustration and stupidity led people to let the trustee in and now THE TRUSTEE HAS NOT PAID $1 BACK TO THE CREDITORS IN 3YEARS BUT HE CAN PAY HIMSELF AND HIS TEAM OF PROFESSIONALS $40 MILLION DOLLARS IN PROFESSIONAL/LEGAL FEES. If this was a ponzi scheme where did all this money come from to pay the trustee or to sue creditors for money that is rightfully repaid to them? Oh, it's all lies the things I mentioned...right? Sure, the trustee wants to stay on this case because he loves the persian jewish community and he feels for them NOT BECAUSE HE IS GETTING RICH OFF OF THEM. Sure, he and his team are a bunch of angels.

By the time he leaves and the well dries up and Ezri Namvar can no longer be around to help anyone or his family have gone bankrupt, PEOPLE WILL REALIZE THE MISTAKE THEY DID UPON THEMSELVES!!!! Thanks for all these articles! They only attribute to gasoline to an already burning fire with all it's misinformation and misguided truths. Mr. Gene Maddaus needs to talk to other people other than Ebi Assil (who we had to know if he eats kosher cheese in a nonkosher restaurant from his last article) and Hakakah (who is neither a creditor nor a member of the jewish persian community). mr. Hakakah lives with his parents and his computer in LA LA LAND.

Thanks for making things worse with articles that tells lies and are biased instead of facts and truth. Can't wait to see who the next victim in this journalistic nonsense will be.

Lastly, let us thank the trustee for holding onto to all the assest and monies and making sure every penny is spent before he gives the creditors a just and correct itemization of how these monies are being spent. NO ONE KNOWS AND NO ONE HAS THE GUTTS TO ASK HIM.

David1

well said by Trojan2002

trojan2002

The commenters on the blog indicate why mainstream media has stayed away from this story.A lot of persian jews are out sticking up for this guy to either protect their reputation or just plain retarded brain functionality.Namvar and his entities owe over $1Billion on loans for real estate purchases and deposits from clients. He had some $700 million in assets, cash and real estate. Subtract $1 billion from $700 million and you get $300 million net.And no, MOST of his clients were not millionaires. Most of the deposits he got were for accounts of less than $100K. Persian Jews need to stop making excuses for this criminal. He took money from clients and spent on things he was not suppose to. He then used additional deposits to pay off previous depositors... that is a ponzi scheme.And the talk of him wanting a reduced sentence so he can pay people back? Nobody, other than the crazy persian jews, will do business with him or his brothers. No bank will give him a loan, no investor will work with him without stringent and probably economically infeasible terms.Namvar should get the max sentence. He prayed on people. Took their money, enriched himself, his brothers, his sisters, his wife and his kids.Persian jews wonder why no one outside of their incestuous clan has respect for them. Well when a majority of you stand up for repulsive figure like Namvar and his family, all because he donated other people's money to jewish causes, you look insane.

Guest

Both lender (Namco) and receiver (creditors) were responsible for what resulted during a time when there was economic turmoil for everyone involved. You are foolish and immature to think that one man prayed on so many. And your tone and voice come off as someone who is not mature enough to understand the 'gray' areas in situations. Nothing is black and white. He was a businessman who had a legitimate business that many like him have run for years on end as he had. He gained a respectable reputation justly and I believe he was used as a scapegoat to be made an example of by the Government. The judge didn't sentence him the maximum of 10 years but 7 which in my opinion is still ridiculously high and a waste of tax dollar money. This guy ran a legitimate finance business...he legitimately made money while making others more money as well. The turn of events that occurred were as a result of many variables that still continue to this day economically, socially, etc. I'm afraid the one entity or persons who did any praying have been the bankruptcy pushers and the media who has prayed on the Jewish Persian Community by sensationalizing our community and the information they failed to research and confirm regarding this unfortunate event for all involved. The bankruptcy pushers went against the will of the majority of the creditors who didn't want bankruptcy. Yeah, this guy had more money than his debts I'm afraid...something I believe you've failed to understand. He took a huge fall, he lost money as well and fell victim to those who prayed on his dire situation to make things right and turn things around...He doesn't deserve the maximum sentence and obviously the judge agreed considering he granted a far less sentence than the maximum. I think it's 7 years...which is still pretty ridiculous and a waste of taxpayers money if you ask me. I've followed this story from the beginning...He's not a thief as I've realized..and he shouldn't be considered a thief or schemer. Which thief takes money, repays a good portion of it back, stays in town only to voluntarily throw himself into the lion's den? I mean come on? This guy has had a lot courage, integrity, and more decency than the small percentage of people as creditors are in rage for decisions that they need to be held accountable all on their own. There's many sides to issues...and this guy has gotten an unfair and bum wrap.

wakeup

It seems to me that the only truth that needs to be exposed by this comment that either Mr. Assil or Mr. Hakakah wrote this. Aren't you guys tired of all these lies. One put him into bankruptcy, bought out his assets and their notes for a fraction of the price while sitting on the board of creditors with the trustee as his friend in the bankruptcy and the other respectively is a big time loser who lives with his parents at 50years old and WAS NEVER A CREDITOR, INVESTOR OR FRIEND to the Namvars. He just has nothing better to do.

As for the real truth, anyone who know Mr. Namvar, know very well that for 30years he only helped make the Persian Jewish Community rich and grow. He took pride in his community. NO SANE PERSON WOULD RISK 30 YEARS OF HARD WORK, LIFE SAVINGS, HIS FUTURE AND FREEDOM TO HIDE, TAKE OR SCHEME ANYONE. Of course, anyone with some brain would already know that and would know that the namvar family and Ezri Namvar are more an asset to the community than not. People still want to work with him. His wishful thinking may have gotten him in trouble but he was and still smart enough to work his way out. People are depending on that . Only vengeful losers want him in jail not the majority.

IF I WERE THE PERSIAN COMMUNITY, I WOULD HAVE TAKEN EZRI NAMVAR OVER THE TRUSTEE/BANKRUPTCY ANYTIME. Thanks Mr. Ebi Assil and your friends. The community can thank you for helping the ship sink COMPLETELY.

I WONDER HOW THE TRUSTEE AND HIS GROUP PAY THEMSELVES 40MILLION DOLLARS IF THE DEBT WAS OVER THE ASSETS AND THERE WAS NO MONEY LEFT...JUST A PONZI SCHEME? think about it or don't? who cares. The trustee still gets paid either way and will leave once the money dries up. YOU PEOPLE NEED TO THINK LOGICALLY NOT EMOTIONALLY AND STOP READING ARTICLES FROM JOURNALIST who have been fired from 6 newspapers before LA Weekly hired him!!!!!!!!!!!!!!!!!!!!!!!!

Guest

insane? i think you're insane. where do u get your information? you make up numbers as one of the bloodsucking bankruptcy trustees. you make accusations with no backing. you post as an ignorant and hateful idiot.

morrisminor

He sounds like he had cut some corners but was not the mastermind of some big scheme. More like wishful thinking than outright fraud

Guest

Gene Maddaus: are you retarded? where the hell did you hear that Ezri's victims lost $1 billion. Do you research your stories before writing? Look up the real numbers next time. Ezri's debt was only $300 million while his assets exceeded $2 billion. it could have all been saved had they not forced him into bankruptcy

Truth

What a bunch of nonsense and lies. Whoever wrote this story has no clue about the facts and has obviously not done his research. How can Ezri owe up to $1 billion when the actual and real claims are less than $300 mill? How can Ezri be even mentioned in the same sentence as Madoff when his tangible assets were ten times his assets? How can he be compared to Madoff when Ezri helped hundreds of charities and Madoff stole from them? Yes, Ezri made a mistake, and his mistake was to try to save the assets for his investors, he should have thought about himself and his family and just take care of his own problems and not worry about his investors and walk free just like all the other bankers/developers out there that took billions from people and banks and are enjoying life. He is a man, much more than the author of this article, and has stayed, faced and fought all false allegations and he believes in a much higher power which will eventually exonerate him.

rickykevlin

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Criminal Lawyers

trojan2002

I would be surprised if Namvar got less than the 10 years. This story may have been very low on the LA news radar, but fraud is fraud. A ponzi scheme is a ponzi scheme. In many ways Namvar was worse than Madoff. At least Madoff investments were SIPC insured and most of Madoff's victims got some returns. Namvar investors have 0 protection and are out small amounts. Namvar prayed on the weak. Madoff targeted the rich.

Guest

all this talk of ponzi is absurd. this was never a ponzi scheme. if it was, then it would have been brought up in court. Namvar is no Madolf, he had assets--assets larger than his debt. don't be fooled by whore journalists that reference such BS just to get some attention