17 Arrested in Weapons, Counterfeiting Probe

What began as a white-collar fraud investigation by federal and local law enforcement agencies culminated Tuesday with the arrest of 17 people in the Los Angeles area on charges ranging from weapons trafficking to a murder-for-hire plot.

During a two-year probe, dubbed Operation Magstrip, undercover operatives purchased more than $1 million in stolen and counterfeit bad checks, more than 100 counterfeit credit cards, 13 gun silencers, a kilogram of cocaine and more than a pound of methamphetamine.

Those arrested during early morning sweeps were among 29 people secretly indicted last week by a federal grand jury in Los Angeles. Four others were already in custody and eight were listed as fugitives.

Charged with using interstate commerce to carry out a murder for hire was Bojidar Zachariev, 39, of Sherman Oaks, who used a pseudonym of Michael McKenzie.

Zachariev and Oliverio Chavez, 52, of Monument, Colo., were also charged with possession of illegal silencers and parts used to convert firearms into machine guns.

The others were indicted on a variety of charges, including possession of drugs, counterfeit checks, credit cards and securities and money laundering.