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Namvar Convicted

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Ezri Namvar, Brentwood-based developer, Ponzi schemer, and West Coast Bernie Madoff nickname-holder, has been "convicted of stealing $21 million from clients who deposited the funds with his firm for tax-free exchange transactions," Bloomberg reports. He was found guilty on four counts of wire fraud and faces up to 80 years in prison. He's also being sued by many of the local Persian Jews who invested with him. [Bloomberg, previously]