Los Angeles — Federal prosecutors have charged 11 individuals, most of them residents of Southern California, in connection with an alleged fraud operation that exploited elderly property owners by stealing their identities and using them to secure high-value real estate loans.
According to the U.S. Attorney’s Office, the scheme involved the theft of personally identifiable information from victims who owned properties in areas including Santa Monica, Hollywood, Hollywood Hills, Westwood, and Chinatown. Investigators said the operation relied on impersonation and document fabrication to gain access to financial systems and lenders.
Officials described the case as part of a broader pattern of title fraud, a form of financial crime in which ownership or control over real estate is manipulated using fraudulent means.
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Forged Documents and False Identities
Prosecutors allege that two of the primary defendants, Nazaret Chakrian, 65, and Arnold Moradians, 57, both of Hollywood, played a central role in obtaining victims’ personal information between January 2021 and May 2023. Authorities said the information was then used to create fake identification documents and email accounts in the victims’ names.
With the assistance of other individuals in the network, the defendants allegedly posed as agents, brokers, relatives, or representatives of the victims. They are accused of fabricating a range of documents, including bank statements, rental agreements, doctors’ notes, and death certificates, to support fraudulent loan applications.
FBI arrests 11 in real estate and loan fraud of Los Angeles elderly victimshttps://t.co/THP98gdIqk
— FBI Director Kash Patel (@FBIDirectorKash) March 20, 2026
Investigators said the group used these materials to secure loans from private lenders, presenting themselves as legitimate representatives of property owners.
Movement of Funds and Financial Trails
Authorities allege that the scheme extended beyond loan acquisition to include the laundering of proceeds. Stolen identities were reportedly used to open bank accounts under false names, which were then used to receive and transfer funds generated through the fraudulent loans.
According to officials, the network moved money through multiple accounts and entities in an effort to obscure the origin and destination of funds. Tyler Hatcher, Special Agent in Charge of IRS Criminal Investigation’s Los Angeles Field Office, said the operation involved moving “millions of dollars through a maze of fraudulent businesses and funnel accounts.”
The total intended loss from the scheme is estimated at approximately $17.4 million, while actual losses have been calculated at around $6 million, according to the U.S. Attorney’s Office.
Arrests and Charges
Authorities announced the arrest of the 11 defendants on March 19. Those taken into custody include individuals from Hollywood, North Hollywood, Glendale, Thousand Oaks, and Oakdale, California, as well as one defendant from Naples, Florida.
Among those arrested are Nazaret Chakrian, Arnold Moradians, Avetis Hekimyan, Ross Tarkhan, Tigran Hovanesian, Armen Vardevaryan, Craig Higdon, Helen Spangler, Victor Lossi, and Marine Sarkisian.
Nearly all defendants face charges of conspiracy to commit wire fraud and wire fraud. Additional charges include aggravated identity theft and money laundering, reflecting the multiple layers of alleged criminal activity.
Akil Davis, Assistant Director in Charge of the FBI’s Los Angeles Field Office, said the case highlights the growing risks associated with title fraud, particularly for elderly individuals.
“The growing problem of title fraud victimizes homeowners and lenders, many of whom are elderly and have their identities stolen, in addition to their hard-earned money,” he said.
The investigation remains ongoing as authorities continue to examine the scope of the network and potential additional victims.
