In a significant crackdown on a sophisticated mortgage fraud scheme in Los Angeles, nine individuals have been arrested. This operation, which occurred on March 19, 2023, involved federal agents and local law enforcement targeting an organized crime network allegedly responsible for stealing identities and obtaining fraudulent loans.
Details of the Arrests
According to authorities, the investigation has been ongoing for years and has resulted in multiple arrests across various locations, including Florida and Canada. The FBI’s Eurasian Organized Crime Task Force led the investigation, with support from agencies such as the IRS and the LAPD.
Individuals Arrested
- Nazaret Chakrian, 65, Hollywood
- Arnold Moradians, 57, Hollywood (Iranian national with an outstanding removal warrant)
- Avetis Hekimyan, 38, North Hollywood
- Ross Tarkhan, 32, Glendale
- Tigran Hovanesian, 56, Glendale
- Armen Vardevaryan, 55, North Hollywood
- Craig Higdon, 66, Naples, Florida
- Helen Spangler, 62, Oakdale, California
- Victor Lossi, 43, Thousand Oaks
- Marine Sarkisian, 49, Hollywood (Azerbaijani national and green card holder)
Authorities are actively searching for at least one additional suspect. Most of those arrested are expected to appear in federal court in downtown Los Angeles.
The Fraud Scheme
This mortgage fraud scheme specifically targeted elderly victims. The alleged criminals stole personal identifying information and utilized it to access property records linked to homes in areas such as Santa Monica, Hollywood, and Westwood.
How the Scheme Operated
According to the investigation, the suspects engaged in several fraudulent activities:
- Creating fake identification and email accounts in victims’ names
- Posing as property owners or representatives
- Submitting fraudulent loan applications to lenders
- Fabricating financial documents, including bank statements
- Fraudulently notarizing loan documents
- Utilizing shell accounts to funnel money
Through these deceptive practices, the group sought approximately $17.4 million in loans and successfully obtained around $6 million. The fraudulent activities misled private lenders into approving loans based on false premises.
Legal Consequences and Future Actions
All defendants are charged with conspiracy and wire fraud, with some facing additional charges for identity theft and money laundering. If convicted, they could face up to 20 years in federal prison for fraud-related counts, with a mandatory additional two-year sentence for each incident of identity theft.
The ongoing investigation may lead to further arrests as authorities continue to dismantle this organized crime network. The case illustrates the rising issue of title fraud, particularly targeting vulnerable homeowners.
U.S. officials emphasize a commitment to combating such fraud schemes, sending a strong message about the legal repercussions awaiting those involved in such criminal activities.
