FBI arrests 11 in real estate and loan fraud targeting Los Angeles elderly victims The U.S. Attorney's Office revealed the arrest of 11 individuals, primarily residents of Southern California, who were involved in a sophisticated fraud scheme that exploited the identities of elderly victims to secure millions of dollars in loans. The defendants are accused of stealing property titles and using stolen personal information to perpetrate a wide-ranging financial deception. Most of the arrested individuals face charges of conspiracy to commit wire fraud and wire fraud, with additional accusations including aggravated identity theft and money laundering. According to Tyler Hatcher, a special agent in charge of the IRS-CI Los Angeles Field Office, the stolen identities were used to obtain high-value real estate loans, create fabricated financial documents, and move large sums of money through a network of fraudulent businesses and accounts. The federal grand jury indictment details that from January 2021 to May 2023, Nazaret Chakrian and Arnold Moradians, both from Hollywood, stole personal information from elderly victims who owned properties in Santa Monica, Hollywood, Hollywood Hills, Westwood, and Chinatown. Using this data, they generated fake identification documents and email accounts in the victims’ names. With the help of other suspects, they impersonated the victims’ agents, brokers, or relatives, fabricating documents such as bank statements, rental agreements, doctors’ notes, and death certificates to secure hard money loans from private lenders. Stolen identities were also used to open bank accounts under false names, which were then employed to channel funds from the scheme. The U.S. Attorney's Office stated that the total intended loss from this case is approximately $17.#fbi #nazaret_chakrian #arnold_moradians #us_attorney_office #irs_ci
FBI raids Hollywood mansion in $17.4M mortgage scam targeting seniors, 11 arrested including Iranian Federal agents executed a raid on a Hollywood mansion early Thursday, seizing a suspect in pajamas and dismantling an alleged $17.4 million mortgage fraud scheme targeting elderly homeowners. The operation, part of a broader investigation dubbed "Operation Hard Money," led to the arrest of 11 individuals, including an Iranian national and an Azerbaijani green card holder, accused of orchestrating a complex scheme to defraud seniors of their property. Prosecutors revealed the group exploited the vulnerability of elderly victims between 2021 and 2023, stealing personal information to create fake identities and shell email accounts. Using these fabricated credentials, the suspects applied for high-value "hard money" loans secured by the victims’ homes. The fraudulent applications included falsified documents such as bank statements, rental agreements, and medical records to deceive lenders. The scheme reportedly resulted in approximately $6 million in actual losses for victims. During the raid, agents surrounded the property, which was described as recently remodeled and featuring luxury vehicles parked outside. The suspect, who walked out of the home with his hands up before being handcuffed, was among 11 defendants charged with conspiracy to commit wire fraud and multiple counts of wire fraud. Several also face aggravated identity theft and money laundering charges. The defendants include Nazaret Chakrian, Arnold Moradians, Avetis Hekimyan, Ross Tarkhan, Tigran Hovanesian, Armen Vardevaryan, Craig Higdon, Helen Spangler, Victor Lossi, Marine Sarkisian, and Cynthia Borjas.#fbi #operation_hard_money #nazaret_chakrian #arnold_moradians #azerbaijani
