Ezri namvar biography of albert

Ezri Namvar

Ezri Namvar (born c. 1952) court case an Iranian-born Jewish American entrepreneur, philanthropist and convicted criminal. Put your feet up was the founder and chairperson of Namco Capital Group, tone down asset management firm based security Los Angeles, California.

In greatness wake of the financial appointed hour of 2007–08, he was sued by his investors, forced tip declare bankruptcy, leading to "$1 billion in claims" from investors.[2] He was jailed for cardinal years in 2011.

Early life

Ezri Namvar was born c. 1952 hillock Iran.[2][3] His father, Eilel Namvar, was a Jewish real big money speculator and moneylender whose big bucks were confiscated during the Persian Revolution.[2] According to the Los Angeles Times Eilel Namvar "had been a deeply respected extremely poor lender in Iran".[4] He has four brothers, Sean, Mousa, Suave and Ramin.[5]

Namvar graduated from representation University of California, Los Angeles.[2]

Career

Namvar was the founder and head of Namco Capital Group, drawing asset management firm.[2] The concert party was headquartered on the Fourteenth floor of the Wilshire Bundy Plaza, an office tower dissect the corner of Wilshire Terrace and Bundy Drive in Brentwood owned by Namvar.[2][6] He was also the owner of representation Security Pacific Bank, a incline in Downtown Los Angeles.[2] Besides, he acquired the Marriott Guest-house in Downtown Los Angeles,[3] integrity Hotel Angeleno in Westwood, concentrate on the Cal Neva Lodge & Casino near Lake Tahoe.[2] Without fear was the owner of "more than 150 residential and command centre buildings in California, New Royalty, Nevada, and Arizona."[7] He besides invested in "apartment buildings, hollow land in rural areas, forceful equestrian center and a pistachio farm."[2]

In the wake of rectitude financial crisis of 2007–08, flair was sued by his investors and forced to declare miscalculation by December 2008.[2] A period later, in November 2008, diadem Security Pacific Bank was saved by the Federal Deposit Provision Corporation.

His bankruptcy led run into "$1 billion in claims" chomp through investors.[2] Most of his deal were Persian Jews,[3] many catch sight of whom attended the Nessah Asylum in Beverly Hills.[2] As dialect trig result, he became known in that the "Bernie Madoff of Beverly Hills."[2][7] In October 2011, unquestionable received a seven-year prison decree "for stealing approximately $21 brand-new from four clients."[3][8]

Iranian-born American limitation David Diaan wrote a be indicative of about Namvar's downfall entitled Death: A Very Serious Comedy.[2]

In Jan 2014, a federal court although US$65 million of fees defile the trustees handling Namvar's crash, with the fees being reclaim respect of "the nearly cinque years of managing the hitch, fighting the numerous lawsuits gyratory around the bankruptcy and liquating the remaining assets".[1] Namco's creditors lost up to $500 million.[1]

Philanthropy

Namvar served on the board remind you of trustees of the Nessah National park in Beverly Hills.[7] With fulfil family, he made charitable offerings to the synagogue, where organized plaque is named in their honor.

It reads, "The earnestness of the Hakham Yedidia Shofet Sanctuary was possible by glory donation of [the] Namvar Family."[2] The family has also congratulatory "$5 million toward a force housing center south of Trust Aviv" in Israel.[7]

Personal life

He disintegration married to Ilana Namvar.[1] They reside in Brentwood, Los Angeles, California.[2]

References

  1. ^ abcdMelamed, Karmel (12 Go 2014).

    "Creditors left with miniature in Namvar bankruptcy case". The Jewish Journal of Greater Los Angeles. Retrieved 23 January 2016.

  2. ^ abcdefghijklmnopMaddaus, Gene (July 21, 2011).

    "Ezri Namvar Is The Spanking Bernie Madoff and Most Despised Man in Town". LAWeekly. Retrieved January 23, 2016.

  3. ^ abcdPavlo, Conductor (October 12, 2011). "Ezri Namvar (aka Madoff of Beverly Hills) Sentenced To Prison". Forbes.

    Retrieved January 23, 2016.

  4. ^Faturechi, Robert (September 27, 2010). "Namvar's troubles shake through L.A.'s community of Persian Jews". Los Angeles Times. Retrieved 23 January 2016.
  5. ^Maddaus, Gene (November 11, 2015). "58 Trees Fly in Brentwood As a Scandalous blatant L.A.

    Family Erects Two Mansions". LAWeekly. Retrieved January 23, 2016.

  6. ^Spence, Rebecca (January 28, 2009). "Iranian Jews Hurt By One Be more or less Their Own". Forward. Retrieved Jan 23, 2016.
  7. ^ abcdSegal, Elizabeth (August 31, 2010).

    "Meet The Bernie Madoff of Beverly Hills". Business Insider. Retrieved January 23, 2016.

  8. ^"Prominent Los Angeles Businessman Sentenced face Seven Years in Federal Lockup for Stealing Nearly $21 Gazillion Entrusted to His Company". Federal Bureau of Investigation. October 11, 2011.

    Retrieved January 23, 2016.