Attempted robbery in front of Fashion Nova CEO's Hollywood Hills home leaves one dead, multiple injured

One person is dead and another four people are injured after a shooting occurred outside of Fashion Nova CEO Richard Saghian's Hollywood Hills, Calif. home.

The incident happened around 2 a.m. on Friday morning. An LAPD official told Fox News, "At around 2:05 this morning a robbery occurred in front of a residence on Blue Jay Way in the Hollywood Hills area."

After following the victims to the home, two suspects exited their vehicle armed with handguns and wore ski masks while a third suspect remained in the vehicle. The suspects then forced two victims onto the ground where they removed their property, watches, and jewelry.

A source close to Saghian tells Fox News the CEO was not a victim of the robbery and was inside of his home at the time of the incident. 

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During the robbery, an armed security guard for the executive "exchanged fire" with the armed suspects and was shot in the abdomen and is currently in critical condition at a local hospital.

The suspects then got into their vehicle and fled the scene. The vehicle was located and stopped on Santa Monica Blvd. and Doheny and a firearm was recovered from inside the suspect vehicle. One suspect who was shot in the abdomen was pronounced dead by LA City Fire. 

A second suspect, who was 17 years old, was shot in the ankle and is in stable condition in a hospital. The third suspect is in custody. He was not shot. 

Meanwhile, the two robbery victims who were also shot are in stable condition in the hospital.

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The names of the suspects and the victims have not been released yet by police.