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A sophisticated identity theft scheme has resulted in a Burbank homeowner losing their $1.5 million property and three arrests, with a fourth suspect still at large, federal authorities announced on Thursday (February 12).
According to a news release from the U.S. Department of Justice, Glenis Cardona, 63, of Highland, Ivan Reyes, 50, of Van Nuys, and Arshak Akopyan, 46, of Northridge were arrested on February 11. The fourth suspect, 54-year-old Basil Tikriti of Marina del Rey, remains a fugitive.
Federal prosecutors allege the group orchestrated an elaborate fraud between late 2023 and January 2024 that involved stolen identities, forged documents, and falsified loan applications to sell a Burbank home they didn't own.
Cardona, who operated Golden Escrow with offices in Sherman Oaks and Downey, allegedly controlled the fraudulent transaction by simultaneously representing both the actual homeowner and a purported buyer—neither of whom authorized the sale. Investigators say she first obtained a title report to check for any liens on the property.
"The defendants prepared fraudulent documents, including false identity cards, a purchase agreement, a grant deed, a deed of trust, and loan applications, and falsely notarized the deeds," according to the criminal complaint. These documents were then submitted to secure a loan.
Tikriti allegedly impersonated both the seller and buyer using stolen identities, while Reyes and Akopyan submitted fraudulent mortgage applications as brokers. The scheme netted approximately $975,000 in loan proceeds, which Cardona allegedly directed to various third-party entities to collect the illicitly obtained funds.
The fraud created multiple victims: the Burbank homeowner who lost their property, an unwitting buyer now responsible for a nearly $1 million mortgage, the lending company that approved the fraudulent loan, and a title company that insured the transaction.
If convicted, each defendant faces up to 30 years in federal prison. The FBI and Burbank Police Department continue to investigate the case.