Overview
- Federal agents arrested 11 suspects on March 19 pursuant to a 15-count indictment that includes conspiracy to commit wire fraud, wire fraud, aggravated identity theft, and money laundering.
- Investigators say the scheme ran from January 2021 to May 2023, using stolen personal data and title reports to impersonate homeowners and present their properties as collateral to private lenders.
- Authorities report about $17.4 million in intended losses and roughly $6 million in actual losses, with funds routed through fraudulent businesses, synthetic identities, and funnel accounts.
- Those arrested include Nazaret Chakrian and Arnold Moradians of Hollywood, with several defendants facing initial court appearances in Los Angeles and some in other federal districts.
- The case was built by the Eurasian Organized Crime Task Force with the FBI, IRS Criminal Investigation, U.S. Postal Inspection Service, LAPD, the Los Angeles County Sheriff’s Department, and Glendale Police Department.