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
