Los Angeles police have arrested 11 people in what detectives describe as an elaborate mortgage fraud ring that targeted elderly homeowners and netted roughly $17 million over several years.
The investigation, dubbed “Operation Hard Money,” began in 2022 with a $5.7 million fraudulent loan, authorities said. The suspects allegedly stole a victim’s personal information, created accounts in their name using forged documents, impersonated them, and forged their signature.
Local and federal investigators said they later uncovered two more victims and additional fraudulent mortgage loans totaling $17 million…