Criminal
May 21, 2011
L.A. Mogul Found Guilty in Ponzi Scheme
A federal jury has convicted a prominent L.A. businessman from the local Iranian community of four counts of wire fraud after less than a day of deliberations.
Daily Journal Staff Writer
LOS ANGELES - A federal jury on Thursday convicted a prominent businessman whom critics labeled the Bernie Madoff of Beverly Hills of stealing $21 million in what prosecutors described as a Ponzi-like scheme against investors.
After a trial that lasted more than two weeks, the jury took less than a day to return guilty verdicts on four counts of wire fraud against real estate mogul Ezri Namvar, 59, o...
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