Criminal
May 7, 2011
Case Against Real Estate Mogul Begins
The first witness called in the federal prosecution of the so-called 'Bernie Madoff of Beverly Hills' offered emotional testimony on how he lost huge portions of his retirement.
Daily Journal Staff Writer
LOS ANGELES - In a hint of testimony to come, the federal criminal trial of a real estate mogul accused of wire fraud kicked off this week with a former hardware store owner who told of losing his retirement savings in what prosecutors allege was a Ponzi-like scheme.
In the case, Iranian immigrant Ezri Namvar, founder and chairman of Namco Financial Exchange Corp. and his co-defendant Hamid Tabatabai...
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