9:40 AM PT -- Law enforcement sources tell us the suspects ordered 2 men who were traveling in the Rolls with Richard to the ground and took jewelry. Richard had already gone inside his home. We're told Richard's security came out of the home and that's when the shootout started.
8:41 AM PT -- Law enforcement sources tell TMZ the 3 suspects tailed a Rolls-Royce containing Fashion Nova CEO Richard Saghian into the hills. We're told it's unclear if they were aware Saghian was traveling in the vehicle, or if they only followed it because of the Rolls' value.
Our sources say once the vehicle parked, the 3 suspects jumped out and that's when the shooting happened. A source close to Saghian tells us he had already made it inside his home when the shots rang out ... we're told he was NOT injured.
Law enforcement sources tell us they're working to connect this incident with similar cases that have happened recently in the area.
A possible robbery off the Sunset Strip at a multi-million-dollar house erupted in gunfire early Friday morning and ended in a car chase ... one person is dead and at least 3 others were shot.
It was a chaotic scene at around 2 AM, starting at a home on Blue Jay Way, a famed street deep in the Hollywood Hills. Witnesses say they heard around 10 gunshots.
We're told the chaos started when 3 men drove up to the house in an Audi and began firing. A security guard was shot but returned fire and struck 2 of the suspects, killing one of them.
We're also told when police arrived they found the security guard under a Range Rover at a nearby house. Our sources say the guard was a retired sheriff's deputy. We're told he was shot in the stomach and taken to a hospital.
The Audi then fled down Blue Jay with a flat tire and LAPD cornered the car just outside the border of Beverly Hills. The suspect who died was still in the car. Cops say another suspect who was wounded was taken to the hospital in critical condition. The third suspect in the car was uninjured.
There were multiple 911 calls from different addresses on Blue Jay, and cops are still sorting this all out.
Originally Published -- 5:35 AM PT