NEW YORK (JTA) — An Iranian-Jewish businessman accused in a Ponzi scheme resigned from his synagogue’s board.
Ezri Namvar, who was forced into involuntary bankruptcy two years ago and accused of orchestrating a Ponzi scheme that lost as much as $500 million, resigned in March from his Beverly Hills synagogue board, the L.A. Jewish Journal reported. Namvar’s resignation follows a Feb. 26 report filed by the court-appointed trustees investigating Namvar’s assets and liabilities that alleged that Namvar and his family members used most of the money investors entrusted to him for risky investments and personal use.
According to the newspaper, Namvar is not facing criminal charges, but various civil suits allege that he has stopped paying dividends to investors.
