LA's $17M mortgage sting: 9 arrested in sophisticated ‘house stealing’ scheme
Arrests in sophisticated ‘house stealing’ scheme
Investigators said the group targeted elderly victims, stealing their personal identifying information and using it to access property records tied to homes in areas including Santa Monica, Hollywood, Hollywood Hills, Westwood and Chinatown.
LOS ANGELES - An early morning crackdown led by the FBI and local law enforcement resulted in multiple arrests tied to an alleged sophisticated mortgage fraud scheme spanning Southern California and beyond, authorities announced.
What we know:
Federal agents, alongside Los Angeles police, served warrants across Los Angeles County, with related arrests in Florida and Canada. FOX 11 was the only television crew embedded with agents during a key operation in North Hollywood.
During that raid, agents surrounded a home and took one suspect into custody. The man, dressed in pajamas, walked out with his hands up before being handcuffed. Several luxury vehicles were parked outside, and the property appeared recently remodeled.
Authorities say the arrests stem from a sweeping federal indictment unsealed this week.
9 arrested, 2 foreign nationals charged
According to a press release from the U.S. Attorney’s Office, nine defendants — including two foreign nationals — were arrested on a 15-count federal indictment alleging they carried out a scheme to steal identities and fraudulently obtain loans backed by residential properties.
Those arrested include:
- 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
Authorities are still searching for at least one additional suspect. Most of the defendants are expected to appear in federal court in downtown Los Angeles.
How the scheme worked
Dig deeper:
Investigators said the group targeted elderly victims, stealing their personal identifying information and using it to access property records tied to homes in areas 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:
- Created fake 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.
Organized operation spanning multiple locations
Investigators say the arrest in North Hollywood is tied to roughly 10 coordinated arrests carried out simultaneously across multiple jurisdictions.
"This organized crime network has their minions, so to speak, on the lending side and the theft side of it," Davis said.
Officials say the case reflects a growing trend of title and mortgage fraud targeting homeowners — particularly 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."
Potential penalties and ongoing investigation
All defendants are charged with conspiracy and wire fraud, with several also facing aggravated identity theft and money laundering charges.
If convicted, they could face up to 20 years in federal prison for each fraud-related count, along with a mandatory two-year sentence for identity theft.
The case is the result of a years-long investigation led by the FBI’s Eurasian Organized Crime Task Force, with assistance from the IRS, LAPD, U.S. Postal Inspection Service, Los Angeles County Sheriff’s Department and Glendale Police Department.
Authorities say 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."
The Source: This report is based on a multi-agency press release from the U.S. Attorney’s Office and the FBI’s Los Angeles Field Office, detailing a 15-count federal indictment.