15-count indictment reveals how Westwood and Santa Monica homes were used as collateral.
Federal authorities arrested 11 people on Thursday, March 19, for their alleged roles in a sophisticated real estate fraud ring that targeted elderly homeowners to secure millions of dollars in fraudulent loans.
A 15-count federal indictment alleges the group stole the identities of seniors to obtain title reports on residential properties in wealthy neighborhoods, including Santa Monica, the Hollywood Hills, Westwood, and Chinatown. According to the U.S. Attorney’s Office, the defendants used that information to pose as the victims or their agents, successfully siphoning approximately $6 million from private “hard money” lenders.
The intended loss in the scheme, which ran from January 2021 to May 2023, was estimated at more than $17 million.
Prosecutors say the operation relied on a web of forged documents, including counterfeit IDs, bank statements, and even fabricated death certificates. Members of the group allegedly created fake email accounts in the victims’ names. They used “synthetic identities”, mixing real victim data with fictitious information, to open bank accounts and funnel the illicit proceeds.
Ten defendants in the case are:
- Nazaret Chakrian, 65, a.k.a. “Niko,” of Hollywood;
- Arnold Moradians, 57, a.k.a. “Julian,” of Hollywood, an Iranian national who has an outstanding warrant for removal from the United States;
- Avetis Hekimyan, 38, a.k.a. “Chef Avo,” of North Hollywood;
- Ross Tarkhan, 32, of Glendale;
- Tigran Hovanesian, 56, of Glendale;
- Armen Vardevaryan, 55, a.k.a. “Gonch,” of North Hollywood;
- Craig Higdon, 66, of Naples, Florida, who will make his initial appearance in the Middle District of Florida;
- Helen Spangler, 62, of Oakdale, California, who will make her initial appearance in the Eastern District of California.
- Victor Lossi, 43, of Thousand Oaks; and
- Marine Sarkisian, 49, of Hollywood, an Azerbaijani national and a green card holder.
The following defendant was arrested later on Thursday and was arraigned on Friday in Los Angeles federal court:
- Cynthia Borjas, 51, of Koreatown.
Most of the defendants are charged with conspiracy to commit wire fraud and multiple counts of wire fraud. Several faces additional charges of aggravated identity theft and money laundering. If convicted, the defendants face a statutory maximum of 20 years in federal prison for each fraud and money laundering count, plus a mandatory two-year consecutive sentence for identity theft.
The investigation was conducted by the Eurasian Organized Crime Task Force, which includes the FBI, IRS Criminal Investigation, and the LAPD.
