Eleven individuals, including ethnic Armenians, have been arrested in Los Angeles, United States, on fraud charges.
They are accused of carrying out a criminal scheme in which the identities of elderly individuals were stolen and used to obtain ownership documents for residential properties. These properties were then used as collateral to secure millions of dollars in loans from private lenders, Factor.am reports.
The suspects were arrested in the morning, and most are expected to appear in court, with the exception of two individuals. Among those detained are Nazareth Chakryan (65, “Nico,” Hollywood), Arnold Moradians (57, “Julian,” Hollywood, Iranian citizen), Avetis Hakimyan (38, “Chef Avo,” North Hollywood), Ross Tarkhan (32, Glendale), Tigran Hovhannisyan (56, Glendale), Armen Vardevaryan (55, “Gonch,” North Hollywood), Craig Higdon (66, Florida), Helen Spengler (62, California), Victor Lossi (43, Thousand Oaks), and Marine Sargsyan (49, Hollywood).
All defendants, except Hovhannisyan, are charged with conspiracy and multiple counts of wire fraud. Some also face additional charges, including identity theft and money laundering.
The total estimated loss in the case amounts to about $17.4 million, with actual losses of around $6 million. If convicted, the defendants face up to 20 years in prison for each applicable charge, as well as mandatory additional sentences for aggravated identity theft.
