Federal authorities conducted a large-scale operation Thursday, March 19, arresting multiple suspects in a sophisticated mortgage fraud scheme spanning Southern California, Florida, and Canada.
FBI Eurasian Organized Crime Task Force, working with the Los Angeles Police Department, served warrants across Los Angeles County. The coordinated effort also involved the IRS, U.S. Postal Inspection Service, Los Angeles County Sheriff’s Department, and Glendale Police Department.
During one high-profile raid in North Hollywood, authorities arrested a man outside his home, dressed in pajamas, surrounded by luxury vehicles and a recently remodeled property.
According to the U.S. Attorney’s Office, nine defendants—including two foreign nationals—face a 15-count federal indictment. The suspects allegedly used stolen identities to fraudulently obtain residential property loans, targeting elderly homeowners.
Those arrested include:
Nazaret Chakrian, 65
Arnold Moradians, 57, Iranian national
Avetis Hekimyan, 38
Ross Tarkhan, 32
Tigran Hovanesian, 56
Armen Vardevaryan, 55
Craig Higdon, 66
Helen Spangler, 62
Victor Lossi, 43
Marine Sarkisian, 49, Azerbaijani national
Authorities are still searching for additional suspects. Most defendants are expected to appear in federal court in Los Angeles.
Investigators say the group created fake IDs, posed as property owners or representatives, submitted fraudulent loan applications, forged bank statements and death certificates, and funneled money through shell accounts. Authorities estimate they attempted to secure $17.4 million in loans and successfully obtained about $6 million.
“People didn’t just steal identities—they used them to secure high-value real estate loans and move millions through fraudulent businesses,” said Tyler Hatcher.
The scheme targeted homes in Santa Monica, Hollywood, Hollywood Hills, Westwood, and Chinatown. Officials say elderly homeowners were particularly victimized.
All defendants face charges including conspiracy and wire fraud, with several also charged with aggravated identity theft and money laundering. Convictions could carry up to 20 years in federal prison per fraud count, plus a mandatory two-year sentence for identity theft.
Authorities warned that further arrests could occur as the investigation continues, emphasizing the crackdown on organized financial crime and fraud networks.
