Federal agents arrested eleven people in Los Angeles after a 15-count indictment alleges a sprawling scheme that stole elderly homeowners’ identities, used the information to obtain title reports, and misrepresented properties as collateral to secure millions in hard money loans.

Eleven defendants — including two foreign nationals — were arrested following charges that they executed a coordinated operation targeting elderly property owners in Los Angeles. Prosecutors say the group used stolen personal identifying information to fabricate loan applications and financial paperwork that convinced private lenders to advance funds.

Investigators allege the defendants tried to extract $17.4 million through the scheme, but authorities estimate the actual loss at about $6 million. The indictment returned by a federal grand jury contains 15 counts tied to wire fraud, identity theft, money laundering, and related offenses.

The arrests produced a list of defendants who are expected to appear in federal court, with some slated for initial proceedings in other districts. Below are the individuals arrested this morning and the identifying details released by prosecutors:

• 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 green card holder.

The remaining defendant arrested today is expected to be arraigned tomorrow in Los Angeles federal court. That individual is Cynthia Borjas, 51, of Koreatown.

All defendants except Hovanesian are charged with one count of conspiracy to commit wire fraud and seven counts of wire fraud. Chakrian, Moradians, Borjas, Hekimyan, Tarkhan, Spangler, Lossi, and Sarkisian are charged with one count of aggravated identity theft.

Chakrian, Moradians, Tarkhan, and Hovanesian are charged with one count of conspiracy to commit money laundering, and Tarkhan faces five additional money laundering counts. The indictment outlines how the accused allegedly combined stolen identity data with counterfeit documents and sham businesses to move loan proceeds.

“There is no shortage of massive fraud occurring within California,” said First Assistant United States Attorney Bill Essayli. “Today’s operation represents one of many sophisticated schemes used by criminals – including foreign nationals – to defraud U.S. citizens and taxpayers of their hard-earned property. Those days are over under this U.S. Department of Justice. These defendants will be facing significant prison time for their charged conduct.”

According to the indictment that a federal grand jury returned on February 5, from January 2021 to May 2023, Chakrian and Moradians fraudulently obtained the personal identifying information (PII) of elderly victims. The victims owned properties in Santa Monica and in the following Los Angeles neighborhoods: Hollywood, Hollywood Hills, Westwood, and Chinatown.

“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,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “An investigation by the FBI Eurasian Organized Crime Task Force, LAPD, and other law enforcement partners led to today’s arrests of multiple perpetrators of this cruel scheme who now face lengthy prison sentences.”

Prosecutors allege Chakrian and Higdon used stolen PII to produce counterfeit identification documents while Borjas and Hekimyan created email accounts in victims’ names to impersonate them. Those fabricated credentials were then used to submit false loan applications and closing paperwork to private hard money lenders.

“The defendants didn’t just steal identities, they used those stolen identities to secure high-value real estate loans, fabricate financial documents, and move millions of dollars through a maze of fraudulent businesses and funnel accounts,” said Tyler Hatcher, Special Agent in Charge, IRS-CI Los Angeles Field Office. “Our agents traced every wire, every transfer, and every shell account to expose the financial backbone of this conspiracy. This indictment sends a clear message, IRS CI will dismantle the money pipelines that allow complex fraud schemes to flourish, and we will hold accountable those who profit from exploiting our financial system.”

According to charging documents, several defendants misrepresented themselves as agents, brokers, representatives, or relatives of the victims to obtain loans said to be secured by the victims’ homes. Chakrian, Hekimyan, Vardevaryan, and Spangler allegedly posed as authorized signatories and pushed fabricated applications across the finish line.

The indictment describes a range of forged records prepared for the lenders, including fake bank statements, rental agreements, doctors’ notes, and death certificates. Those papers allegedly misstated the victims’ health, assets, and the intended use of loan proceeds to induce lenders to disburse funds.

After receiving closing documents, investigators say Chakrian, Hekimyan, Lossi, and Sarkisian caused signatures and notary acknowledgments to be falsified so the loans appeared legitimate. Tarkhan is accused of creating synthetic identities that blended real victim data with fictional details to open bank accounts used to move the proceeds through layered transfers.

Private money lenders relied on the false statements, misrepresentations, and certifications to cause funds to be disbursed via check and wire to mailboxes and bank accounts controlled by Chakrian, Tarkhan, and others. Those transfers formed the financial trail federal agents say they followed to build the case.

“This case reflects the relentless work of our investigators and the strong collaboration with our federal partners to unravel a complex and calculated criminal scheme,” said Interim Glendale Police Chief Robert William. “Their focus and determination ensured those responsible are held accountable and that justice is delivered.”

If convicted, the defendants face a statutory maximum of 20 years in federal prison for each fraud- and money laundering-related count, plus a mandatory consecutive two-year term for each aggravated identity theft conviction. Prosecutors from the U.S. Attorney’s Office are handling the case while multiple federal and local agencies continue to investigate.

The inquiry has been led by the Eurasian Organized Crime Task Force and the Los Angeles Police Department Commercial Crimes Division, with participation from the FBI, IRS Criminal Investigation, the United States Postal Inspection Service, the Los Angeles County Sheriff’s Department, and the Glendale Police Department. Assistant United States Attorneys Claire E. Kelly of the General Crimes Section and Hava Mirell of the Criminal Appeals Section are prosecuting the matter.