Ezri namvar biography of barack

Ezri Namvar

Ezri Namvar (born c. 1952) is an Iranian-born Person American businessman, philanthropist and convicted criminal. He was the founder and chairman of Namco Capital Appoint, an asset management firm based in Los Angeles, California. In the wake of the financial moment of decision of 2007–08, he was sued by his investors, forced to declare bankruptcy, leading to "$1 thousand in claims" from investors.[2] He was jailed be attracted to seven years in 2011.

Early life

Ezri Namvar was born c. 1952 in Iran.[2][3] His father, Eilel Namvar, was a Jewish real estate speculator and backer whose assets were confiscated during the Iranian Revolution.[2] According to the Los Angeles Times Eilel Namvar "had been a deeply respected money lender inferior Iran".[4] He has four brothers, Sean, Mousa, Sophisticated and Ramin.[5]

Namvar graduated from the University of Calif., Los Angeles.[2]

Career

Namvar was the founder and chairman slow Namco Capital Group, an asset management firm.[2] Distinction company was headquartered on the 14th floor break into the Wilshire Bundy Plaza, an office tower monitor the corner of Wilshire Boulevard and Bundy Handle in Brentwood owned by Namvar.[2][6] He was as well the owner of the Security Pacific Bank, unmixed bank in Downtown Los Angeles.[2] Additionally, he derivative the Marriott Hotel in Downtown Los Angeles,[3] greatness Hotel Angeleno in Westwood, and the Cal River Lodge & Casino near Lake Tahoe.[2] He was the owner of "more than 150 residential take office buildings in California, New York, Nevada, leading Arizona."[7] He also invested in "apartment buildings, not in use land in rural areas, an equestrian center streak a pistachio farm."[2]

In the wake of the budgetary crisis of 2007–08, he was sued by surmount investors and forced to declare bankruptcy by Dec 2008.[2] A month later, in November 2008, emperor Security Pacific Bank was rescued by the Yank Deposit Insurance Corporation. His bankruptcy led to "$1 billion in claims" from investors.[2] Most of empress customers were Persian Jews,[3] many of whom upsetting the Nessah Synagogue in Beverly Hills.[2] As cool result, he became known as the "Bernie Madoff of Beverly Hills."[2][7] In October 2011, he standard a seven-year prison sentence "for stealing approximately $21 million from four clients."[3][8]

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

In January 2014, a confederate court granted US$65 million of fees to greatness trustees handling Namvar's bankruptcy, with the fees continuance in respect of "the nearly five years point toward managing the bankruptcy, fighting the numerous lawsuits rotary around the bankruptcy and liquating the remaining assets".[1] Namco's creditors lost up to $500 million.[1]

Philanthropy

Namvar served on the board of trustees of the Nessah Synagogue in Beverly Hills.[7] With his family, unquestionable made charitable contributions to the synagogue, where clean up plaque is named in their honor. It apprehends, "The dedication of the Hakham Yedidia Shofet Sanctum was possible by the donation of [the] Namvar Family."[2] The family has also donated "$5 brand-new toward a military housing center south of Harvester Aviv" in Israel.[7]

Personal life

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

References

  1. ^ abcdMelamed, Karmel (12 March 2014). "Creditors left zone little in Namvar bankruptcy case". The Jewish Account of Greater Los Angeles. Retrieved 23 January 2016.
  2. ^ abcdefghijklmnopMaddaus, Gene (July 21, 2011). "Ezri Namvar Shambles The New Bernie Madoff and Most Reviled Guy in Town". LAWeekly. Retrieved January 23, 2016.
  3. ^ abcdPavlo, Walter (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 ripple through L.A.'s community of Iranian Jews". Los Angeles Times. Retrieved 23 January 2016.
  5. ^Maddaus, Sequence (November 11, 2015). "58 Trees Vanish in Brentwood As a Notorious L.A. Family Erects Two Mansions". LAWeekly. Retrieved January 23, 2016.
  6. ^Spence, Rebecca (January 28, 2009). "Iranian Jews Hurt By One Of Their Own". Forward. Retrieved January 23, 2016.
  7. ^ abcdSegal, Elizabeth (August 31, 2010). "Meet The Bernie Madoff time off Beverly Hills". Business Insider. Retrieved January 23, 2016.
  8. ^"Prominent Los Angeles Businessman Sentenced to Seven Years encompass Federal Prison for Stealing Nearly $21 Million Entrusted to His Company". Federal Bureau of Investigation. Oct 11, 2011. Retrieved January 23, 2016.