Los Angeles Crime Network Targets $17.4 million in Theft from Elderly Victims

Early in the morning on March 19th, in a daring morning raid, nine individuals from Los Angeles were arrested by federal agents for their involvement in a $17.4 million sophisticated mortgage scheme. The suspected are accused of targeting elderly victims and high-value residential properties in areas like Hollywood and Santa Monica. Related arrests were made in Florida and Canada. The suspects face a 15-count federal indictment that includes wire fraud and identity theft. Each suspect is facing up to 20 years in prison.

Several departments cooperated on the case including the FBI’s Eurasian Organized Crime Task Force, the IRS, the LAPD, U.S. Postal Inspection Service, Los Angeles County Sheriff’s Department and Glendale Police Department.

According to a press release from the U.S. Attorney’s Office, nine defendants — including two foreign nationals — were arrested:

• Nazaret Chakrian, 65, of Hollywood

• Arnold Moradians, 57, of Hollywood, an Iranian national with an outstanding removal warrant

• Avetis Hekimyan, 38, of North Hollywood

• Ross Tarkhan, 32, of Glendale

• Tigran Hovanesian, 56, of Glendale

• Armen Vardevaryan, 55, of North Hollywood

• Craig Higdon, 66, of Naples, Florida

• Helen Spangler, 62, of Oakdale, California

• Victor Lossi, 43, of Thousand Oaks

• Marine Sarkisian, 49, of Hollywood, an Azerbaijani national and green card holder

One additional suspect is still at large.

The group targeted elderly victims by stealing their personal identifying information and using it to access property records tied to homes around Los Angeles county including Santa Monica, Hollywood, Hollywood Hills, Westwood and Chinatown.

"It’s a complex fraud scheme in which people are using private citizens’ homes to leverage that to steal money," said Akil Davis, assistant director in charge of the FBI’s Los Angeles Field Office.

According to prosecutors, the suspects:

• Posed as representatives and owners of various high value properties.

• Created fraudulent IDs and email accounts in victims’ names.

• Posed as owners or representatives of the properties.

• Submitted fraudulent loan applications to private lenders.

• Fabricated financial documents, including bank statements and even death certificates.

• Fraudulently notarized loan documents.

• Funneled money through shell accounts using synthetic identities.

Authorities say the group sought approximately $17.4 million in loans and successfully obtained about $6 million.

Private lenders were allegedly misled into issuing loans based on false claims that the properties were legitimate collateral.

"They didn’t just steal identities — they used those stolen identities to secure high-value real estate loans and move millions of dollars through fraudulent businesses," said Tyler Hatcher, special agent in charge of IRS Criminal Investigation in Los Angeles.

10 coordinated arrests, in multiple jurisdictions, were concurrently carried out by investigators at the same time as the Los Angeles arrests.

"This organized crime network has their minions, so to speak, on the lending side and the theft side of it," Davis said.

This is just the latest example of sophisticated mortgage fraud schemes targeting the elderly.

"The growing problem of title fraud victimizes homeowners and lenders, many of whom are elderly," Davis said.

First Assistant U.S. Attorney Bill Essayli called the case part of a broader effort to crack down on fraud.

"There is no shortage of massive fraud occurring within California," Essayli said. "These defendants will be facing significant prison time for their charged conduct."

Every defendant was charged with conspiracy and wire fraud. Several were also charged with aggravated identity theft and money laundering charges.

Each defendant could face up to 20 years in federal prison for each fraud-related count, in addition to a mandatory two-year sentence for identify theft.

More arrests could follow as the investigation continues.

"This indictment sends a clear message," Hatcher said. "We will dismantle the money pipelines that allow complex fraud schemes to flourish."