Monday, May 23, 2011

LA Real Estate Mogul Convicted Of $21m Fraud

"A bankrupt Los Angeles real estate developer has been convicted of stealing some $21 million through a tax shelter scheme. Ezri Namvar was found guilty Thursday of four counts of wire fraud along with a second defendant, 63-year-old Hamid Tabatabai. They could face up to 80 years in federal prison. “