Mousa namvar biography of barack

According to a trustees' report in the bankruptcy case, the business ran smoothly untilwhen Namvar changed course and started investing in real estate. He bought office buildings, including the Wilshire Bundy building. His company, Namco Capital Group, occupied the entire 14th floor there, with a commanding view of West L. He also bought apartment buildings, vacant land in rural areas, an equestrian center and a pistachio farm.

My investors had the stomach to weather it. According to Bradley Sharp, the trustee of the Namco bankruptcy, the company never had more than six employees — hardly enough to manage such a vast and growing enterprise. Namvar used the most rudimentary accounting methods, recording transactions in a simple ledger. After two years, Sharp says he still isn't clear on whether Namvar was just sloppy, or whether he was more nefarious.

He did routinely transfer assets to limited-liability companies controlled by his relatives. Inthe market turned. Namvar never saw it coming. He was heavily leveraged — though, Namvar says, no more so than many others. According to Mousa, in the back of his mind, Namvar believed if he ever got into trouble, he could access a line of credit worth several hundred million dollars.

But credit dried up and Namvar ran out of money. He stopped making interest payments, and his office lobby filled up with people trying to get their money back. I heard stories of screaming and fighting. In a desperate scramble to stay afloat, Namvar paid off some of his most demanding investors with money from others. He told different things to different people, and many say they were recruited to invest while Namvar knew he was floundering.

Another investor, an elderly woman, asked if Eshmoili was there to get his mousa namvar biography of barack. He said he was. She said she was, too. By Novemberthe lenders were growing even more frightened and anxious. Some had filed suit. Namvar called a meeting at the downtown Marriott to plead for time. Drop the lawsuits, he urged, and he would figure a way to pay everybody.

It would take a while — maybe a few years. But everyone would be repaid. If you trusted him then, you should trust him now. He will get us the money. When Assil heard the rumors of difficulty, he went to see Namvar. Assil says Namvar promised to secure his loan with an interest in a penthouse in Israel. So Assil went to Israel to check it out.

He says he later found out the penthouse was already being used as collateral for someone else. Assil says he concluded that Namvar had been transferring assets to his relatives and friends. He was just buying time. I had to move quickly. Assil gathered up a handful of other creditors and, in Decemberforced Namvar into involuntary bankruptcy. Meeting a reporter for coffee recently in the courtyard of the Montage Beverly Hills, the luxury hotel where Dodgers owner Frank McCourt has lived since separating from his wife, Assil shows up impeccably dressed and exuding old-world charm.

When someone does what they did, it's different. They steal your trust. They steal your honor. They never apologized. But what about the guy who commits the biggest fraud in the history of L. He gets only five to seven years? Assil has harsh words for federal investigators, who, he says, barely scratched the surface of Namvar's crimes. He also is unsparing with the leaders of the Orthodox community.

He believes they should have spoken out more forcefully and compelled the Namvar family to repay creditors. Still, he acknowledges that he remains comfortable. He is still following the money with grim determination. Some may be in Turkey. This is not over yet. This is just the beginning. When Michael Eshmoili spoke up in support of Namvar at the Marriott hotel, he had never met the man.

Mousa namvar biography of barack

Eshmoili owns a fabric wholesaling business. It's downtown, and it used to be across the street from a branch of Security Pacific Bank, which Namvar owned, and which has since been seized by the Federal Deposit Insurance Corporation. When Republican Peter Fitzgerald announced that he would vacate his U. Senate seat in after only one term, Obama decided to run.

He won 52 percent of the vote in the Democratic primary, defeating both multimillionaire businessman Blair Hull and Illinois Comptroller Daniel Hynes. After his original Republican opponent in the general election, Jack Ryan, withdrew from the race, the former presidential candidate Alan Keyes stepped in. It put the relatively unknown, young senator in the national spotlight.

Senate since Reconstruction. During his tenure, Obama notably focused on issues of nuclear non-proliferation and the health threat posed by avian flu. He partnered with another Republican, Senator Richard Lugar of Indianaon a bill that expanded efforts to destroy weapons of mass destruction in Eastern Europe and Russia. In AugustObama traveled to Kenya, where thousands of people lined the streets to welcome him.

He published his second book, The Audacity of Hopein October On February 10,Obama formally announced his candidacy for president of the United States. A victory in the Iowa primary made him a viable challenger to the early frontrunner, the former first lady and current New York Senator Hillary Clintonwhom he outlasted in a grueling primary campaign to claim the Democratic nomination in early June Obama chose Joseph R.

Biden Jr. It notes that four of his brothers, his three sisters and three of his children held shares in Security Pacific Bank, a West L. The bank was closed by regulators in November However, Mousa Namvar disagreed with the findings in the report that relate to him, saying his books and records show that the company owes him money. He said the report links him to limited liability companies he is not a member of and noted other inaccuracies.

Inas the real estate market was collapsing and Ezri Namvar was under legal assault, he made at least 13 transactions that may have favored some creditors ahead of others. In some cases, the report is definitive in noting that some of the transfers, assignments or sales should be negated. In one example, a San Vicente Boulevard property in Brentwood was sold to a creditor and the amount owed by Namco to the creditor was reduced.

In another instance, apartment properties in Venice owned by Namvar were assigned to a creditor in order to pay back that individual. Hayden lives north of Sunset Boulevard on a cul-de-sac lined with single-story, midcentury ranch houses. No one answers Hayden's doorbell. After a few minutes his assistant, Emma, arrives and says Hayden has been taken to the hospital with shortness of breath.

She offers to show the view. The house is laden with books and decorated with portraits of Native Americans. The back patio offers a gorgeous view of the opposite ridge, a pristine outcropping of the Santa Monica Mountains. Down below is Sullivan Canyon. A white ribbon of horse trail is just visible, as is a tangle of recently felled trees.

Emma gets a call from Hayden's wife, Barbara Williams, a Canadian-born actress. Williams arrives a few moments later and explains that Hayden is fine and now eating breakfast at Brentwood Country Mart. Williams is a plaintiff in the lawsuit, and she says the Los Angeles Board of Building and Safety Commissioners is a kangaroo court. The Namvars claim to have notified the neighbors before cutting mousa namvar biography of barack the trees.

At the site of the mansion project, a bulldozer and backhoe sit idle. Work has been on hold for a year, since a neighborhood outcry led state watershed managers to shut it down. Williams points out the tree stumps and a small creek — the developers want to turn it into a driveway. The site is about 12 acres. Further up the street, Williams leads the way to a hiking trail that runs up the canyon.

She points to a couple of hills, which will be flattened for the mansion building pads.