NEWNow you can listen to Fox News articles!
FBI agents raided a Hollywood mansion early Thursday, arresting a suspect in his pajamas during an alleged $17.4 million housing scam targeting elderly homeowners.
Prosecutors say the scheme led to the loss of about $6 million, with 11 suspects – including an Iranian and an Azerbaijani – accused of stealing victims’ information, taking out loans from their homes and pocketing the money.
During the raid, part of Operation Hard Money, agents surrounded the house and arrested the suspect after he came out with his hands up before being handcuffed, FOX 11 reported. Several luxury cars were parked outside, and the property appeared to have been recently renovated, the store reported.
HOME OF FBI RAIDS AND OFFICES OF THE DISTRICT ADMINISTRATOR IN MAJOR LOS ANGELES
FBI agents arrested a suspect outside a Hollywood mansion during a raid related to a $17.4 million housing fraud scheme targeting elderly homeowners. (FBI Los Angeles)
“There is no shortage of serious fraud occurring in California,” Bill Essayli, first assistant United States attorney, said in a statement. “Today’s operation represents one of the most sophisticated schemes used by criminals – including foreign nationals – to defraud US citizens and taxpayers of their hard-earned money. Those days are over under this US Department of Justice. These defendants will face significant prison time for their criminal conduct.”
“Major reduction in suspected fraud in California @FBILosAngeles – well done,” FBI Director Kash Patel wrote on X in response to the raid.
FBI Director Kash Patel praised the operation. (REUTERS/Kevin Lamarque)
All but one of the defendants face charges of conspiracy to defraud and multiple counts of wire fraud, while several also face charges of identity theft and money laundering, said prosecutors from the U.S. Attorney’s Office for the Central District of California.
Authorities say the group targeted elderly homeowners between 2021 and 2023, stealing personal information and using it to create fake IDs and email accounts to impersonate victims. They then applied for high-value “hard money” loans funded by the victims’ estates, submitting false documents including bank statements, tenancy agreements and medical records.
I HAVE MADE THOUSANDS OF MONEY EXCHANGE — CONSPIRACY IS A NATIONAL SECURITY THREAT
After a four-year investigation, the FBI’s Eurasian Organized Crime Task Force arrested 11 suspects in “Operation Hard Money,” accusing them of stealing the identities of adults to obtain fraudulent loans from their estates. (@FBILosAngeles / X)
The suspects are suspected of using fake IDs and shell accounts to get money from the accounts they manage.
Authorities said the scheme involved properties across Los Angeles – including Hollywood, Hollywood Hills, Westwood and Chinatown.
The defendants are Nazareth Chakrian, 65; Arnold Moradians, 57; Avetis Hekimyan, 38 years old; Ross Tarkhan, 32; Tigran Hovanesian, 56; Armen Vardevaryan, 55; Craig Higdon, 66; Helen Spangler, 62; Victor Lossi, 43; Marine Sarkisian, 49; and Cynthia Borjas, 51.
FBI agents arrested a suspect outside a Hollywood mansion during a raid related to a $17.4 million housing fraud scheme targeting elderly homeowners. (FOX 11/KTTV)
Two of the suspects are immigrants – Moradians, an Iranian national with a warrant for removal from the United States, and Sarkisian, an Azerbaijani national with green cards, prosecutors said.
CLICK HERE TO DOWNLOAD THE FOX NEWS PROGRAM
If convicted, the defendants face up to 20 years in federal prison on each count of fraud and racketeering, and a mandatory sentence of two consecutive years for aggravated identity theft.
The case is being investigated by the FBI-led Eurasian Organized Crime Task Force and IRS Criminal Investigation, the US Postal Inspection Service and local law enforcement agencies.
