July 9, 1993 |
Sherman Mazur, a onetime real estate whiz accused of engineering one of the biggest tax fraud cases in recent years, pleaded guilty to seven counts of tax and bankruptcy fraud, the U.S. attorney's office in Los Angeles said Thursday. The government's case centered around allegations that Mazur, 43, supported a lavish lifestyle by diverting cash to himself from some of the 200 real estate partnerships he ran--many of which were in bankruptcy.
September 3, 1992 |
A federal grand jury on Wednesday added five counts of tax fraud and 24 counts of bankruptcy fraud to criminal charges returned last December against Los Angeles real estate investor Sherman Mazur. The new counts include allegations of a $5.6-million tax fraud, making the Mazur case one of the biggest tax fraud cases in the country, even larger than such celebrated recent cases as the one involving former New York hotel executive Leona Helmsley.
December 19, 1991 |
Mazur Bail Set: Bail was set at $400,000 for jailed real estate investor Sherman Mazur, who was indicted Tuesday on 45 counts of bankruptcy fraud. The amount was set after a long hearing before a U.S. magistrate in downtown Los Angeles. Mazur, 42, was accused of fraud in connection with the way he managed more than 200 real estate partnerships nationwide. Mazur was not expected to be able to raise the bail right away.
December 18, 1991 |
Sherman Mazur, once a rising star in American real estate, was indicted Tuesday in Los Angeles on charges of bankruptcy fraud in connection with the way he managed more than 200 property partnerships across the country. The 45-count indictment accused Mazur of concealing partnership assets, money laundering and making false statements to federal bankruptcy authorities. Mazur could not be reached for comment, but he and his attorneys have consistently denied that he has done anything wrong. U.S.
April 24, 1989 |
A group of creditors that includes well-known real estate expert Stephen E. Roulac is petitioning the U.S. Bankruptcy Court in Los Angeles to liquidate American Resource Corp., a Century City firm that Roulac once touted as one of the nation's rising stars in real estate. American Resource is headed by Sherman Mazur, 40, a Holmby Hills resident who is prominent in Los Angeles social and charity circles. Mazur built his reputation as a so-called real estate workout specialist who takes control of financially troubled offices and apartments, trims property management costs and whips the properties into shape financially for investors.
June 27, 1988 |
Inside Sherman Mazur's 17th-floor office in Century City is said to be a framed photograph of a cake. Baked to commemorate one of his real estate deals, the cake is decorated to look like a check payable to one of his companies for what is believed to be $6 million, according to former associates. To people he's done business with, Mazur makes earning millions seem like a piece of cake. In the early 1980s, he was selling investors five-barrel-a-day oil wells drilled in southeast Kansas.