Burbank Man Surprised as His $1.5M Home is Sold Without His Consent in Complex Scam
Federal Charges Filed in Burbank Home Fraud Scheme
LOS ANGELES – A licensed real estate broker and three accomplices have been charged in a complex fraud scheme involving a $1.5 million home sale in Burbank. Authorities allege that the group used stolen identities to sell the property without the owner’s consent, resulting in the illegal acquisition of nearly $1 million in loan proceeds.
Three defendants—Glenis Cardona, Ivan Reyes, and Arshak Akopyan—were arrested on Wednesday following the issuance of a federal criminal complaint. A fourth suspect, Basil Tikriti, remains at large.
According to prosecutors, the fraudulent activity took place between late 2023 and January 2024. The defendants allegedly manipulated stolen personal information from the actual homeowner and a fictitious buyer to carry out the sale. The complaint outlines a series of forged documents, including fake identity cards and property deeds.
Cardona, who runs Golden Escrow, is accused of orchestrating the transaction and channeling $975,000 in loan proceeds to various third parties. The affidavit suggests that Cardona falsely represented both the seller and the buyer without their authorization. Federal officials noted that all defendants are presumed innocent until proven guilty.
Tiklriti is alleged to have acted as both the buyer and the seller in the transaction, while Reyes and Akopyan served as mortgage brokers to facilitate funding from an unsuspecting lender.
Authorities continue to search for Tikriti, and the means by which the defendants obtained sensitive personal identification information from the victim and the alleged buyer remains unclear.
The three defendants currently in custody are expected to make their initial appearances in federal court on Thursday. If convicted, each faces potential sentences of up to 30 years in federal prison. The FBI, in collaboration with the Burbank Police Department, is actively investigating the case and pursuing additional leads.
