FBI agents raided a Hollywood mansion early Thursday as part of “Operation Hard Money,” arresting 11 suspects linked to an alleged $17.4 million mortgage fraud scheme that targeted elderly homeowners in Los Angeles. Prosecutors said the scheme caused approximately $6 million in actual losses.
Scheme Details and Arrests
The defendants, including an Iranian national facing removal proceedings and an Azerbaijani green card holder, are accused of stealing personal information from elderly victims between 2021 and 2023. They allegedly used fake identities and fabricated documents to secure high-value “hard money” loans backed by the victims’ properties.
The fraud involved creating fake IDs and email accounts to impersonate homeowners and submitting falsified bank statements, rental agreements, and medical records to lenders. Proceeds were reportedly funneled through shell accounts controlled by the suspects. Properties affected span multiple Los Angeles neighborhoods such as Hollywood, Hollywood Hills, Westwood, and Chinatown.
The defendants face charges including conspiracy to commit wire fraud, multiple wire fraud counts, aggravated identity theft, and money laundering. If convicted, they could receive up to 20 years in federal prison per count, plus mandatory sentences for identity theft offenses.
Official Responses and Investigations
Bill Essayli, first assistant U.S. attorney for the Central District of California, emphasized the sophistication of the fraud and the involvement of foreign nationals. FBI Director Kash Patel praised the takedown as a significant operation against large-scale fraud in California.
The investigation was conducted by the FBI’s Eurasian Organized Crime Task Force with assistance from IRS Criminal Investigation, the U.S. Postal Inspection Service, and local law enforcement agencies. During the raid, officials noted the presence of luxury vehicles and a recently remodeled property at the Hollywood mansion.
For more stories on this topic, visit our category page.
