Persian Jewish Leader Ezri Namvar Under A Slew Of Lawsuits

A Beverly Hills resident, Namvar’s huge in the Persian community and is a major investor in Israel. He’s the chairman of the Namwest investment company and Namco Capital.

There are a number of people who are already under the government and litigation microscope.

Here’s a complete list of the lawsuits against Namvar: SC100259, SC100292, SC100349, SC100354, BC398619, BC400090, BC400091, BC400204, BC400561, BC400587, BC400744, BC401698, BC401927, BC401802, BC401927.

Ezri Namvar walks around with a kipa on his head. He’s mishpacha (a member of the tribe). His persona is, "I’m a great guy. I’m a Jew. Lend me your money."

His public response to his inability to repay these loans is, "The real estate market sank. Life’s a bitch."

About 400 people have lent Namco Capital about $300 million. Namca can’t pay people back so they are suing on mass. One by one, they are going after Ezri and his four brothers (who are also in real estate).

There have been various types of loans to Ezri Namvar. There have been unsecred loans, loans secured by Ezri’s signature, and loans secured by Ezri’s brothers, and loans secured by real estate.

Do you know what a 1031 Exchange is? "A 1031 exchange, otherwise known as a tax deferred exchange is a simple strategy and method for selling one property, that’s qualified, and then proceeding with an acquisition of another property (also qualified) within a specific time frame. The logistics and process of selling a property and then buying another property are practically identical to any standardized sale and buying situation, a "1031 exchange" is unique because the entire transaction is treated as an exchange and not just as a simple sale. It is this difference between "exchanging" and not simply buying and selling which, in the end, allows the taxpayer(s) to qualify for a deferred gain treatment. So to say it in simple terms, sales are taxable with the IRS and 1031 exchanges are not."

If Ezri Namvar can’t repay these loans, many of the people who’ve lent him money will owe a lot of money in taxes.

A lot of people who lent him money were living off the interest to pay their expenses.

I don’t know if Ezri Namvar mismanaged his real estate business or if he did anything wrong or if it was just bad luck, such as with Rabbi Daniel Lapin’s real estate trust 17 years ago when the thing imploded during the 1991 recession.

Something smells bad about this Namco Capital. It sounds like a giant ponzi scheme. It sounds like the Rabbi Joseph Shereshevsky case.