Federal prosecutors say properties in Santa Monica were among those targeted in a years-long fraud scheme that used stolen identities of elderly homeowners to fraudulently obtain millions of dollars in hard money loans, leading to the arrest of 11 defendants Thursday on federal charges.
A 15-count indictment returned by a federal grand jury Feb. 5 alleges the defendants, including two foreign nationals, stole the personal identifying information of elderly victims who owned properties in Santa Monica and several Los Angeles neighborhoods — Hollywood, Hollywood Hills, Westwood and Chinatown — then used that information to solicit private lenders for loans falsely represented as being secured by the victims' properties.
The total intended loss in the case is approximately $17.4 million, with actual losses of approximately $6 million.
Among those arrested were Nazaret Chakrian, 65, of Hollywood, and Arnold Moradians, 57, of Hollywood, an Iranian national with an outstanding warrant for removal from the United States, who are alleged to have obtained victims' personal identifying information beginning in January 2021. The scheme continued through May 2023.
Prosecutors allege the defendants created counterfeit identification documents, fraudulent email accounts in victims' names, and fabricated documents including bank statements, rental agreements, doctors' notes and death certificates. Upon receiving loan closing documents, defendants allegedly caused them to be fraudulently notarized and signed by individuals posing as the victims.
Defendant Ross Tarkhan, 32, of Glendale, is alleged to have used stolen personal information to create synthetic identities — combining fictitious profile information with real victim data — and opened bank accounts under false names to funnel proceeds from the scheme.
"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 of the IRS Criminal Investigation Los Angeles Field Office.
The remaining defendants are Avetis Hekimyan, 38, of North Hollywood; Tigran Hovanesian, 56, of Glendale; Armen Vardevaryan, 55, of North Hollywood; Craig Higdon, 66, of Naples, Florida; Helen Spangler, 62, of Oakdale; Victor Lossi, 43, of Thousand Oaks; Marine Sarkisian, 49, of Hollywood, an Azerbaijani national and green card holder; and Cynthia Borjas, 51, of Koreatown.
If convicted, defendants face up to 20 years in federal prison on each fraud and money laundering count, plus a mandatory consecutive two-year sentence on the aggravated identity theft count.
The case is being prosecuted by the U.S. Attorney's Office for the Central District of California and investigated by the FBI Eurasian Organized Crime Task Force and the Los Angeles Police Department's Commercial Crimes Division.