Authorities arrested a Studio City man Thursday on suspicion of running a business in which he turned back odometers on leased cars in order to defraud the dealerships that owned them, officials said.
Serge Oganesian, 44, is charged with 27 felonies: 13 counts of grand theft, 13 counts of computer fraud and one count of conspiracy to commit a crime, the Los Angeles County District Attorney’s Office said in a written statement.
An arrest warrant was issued on Wednesday, officials said.
Oganesian ran his fraudulent business in North Hollywood, Glendale and Studio City since April of 2015, prosecutors said.
“The defendant is accused of hacking the computers of 12 vehicles to change the odometers for people who were leasing the automobiles from local dealerships,” according to the statement. “The purportedly false mileage resulted in $76,394 in losses to the dealerships’ financial services
companies when the vehicles were returned.”
The victim dealerships were primarily in the San Gabriel Valley and Glendale, officials said.
Bail has been set at $761,000 pending his initial court appearance, scheduled Monday in Los Angeles County Superior Court, Los Angeles County booking records show.
He faces up to 20 years and 4 months in state prison if convicted as charged.