A California homeowner has been stripped of his $1.5 million property after becoming the victim of a sophisticated alleged identity theft and real estate fraud scheme. The elaborate scam, which involved multiple conspirators, resulted in the fraudulent sale of a Burbank home without the legitimate owner's knowledge or consent.
The Alleged Conspirators and Their Scheme
Real estate agent Glenis Cardona, aged 63, is accused of leading the operation alongside co-conspirators Ivan Reyes, 50, Arshak 'John' Akopyan, 46, and Basil Tikriti, 54. According to the US Attorney's Office, the group meticulously orchestrated the theft by first selecting the target property because it had only one lien for child support, making it easier to manipulate.
Forged Documents and Fraudulent Loan
The alleged fraudsters stole the identities of both the homeowner and a purported buyer to secure a loan worth $975,000 in January 2024. Cardona allegedly utilized her company, Golden Escrow, to obtain a report detailing any liens on the property. Her accomplices then drafted a series of fake documents, including identity cards, a purchase agreement, a grant deed, a deed of trust, and loan applications complete with false notaries.
These fabricated papers were presented to a lender, who subsequently approved the loan. The bank transferred more than $961,000 to Cardona's business account. On the same day, Cardona moved $60,000 to a personal account, spending $18,250 at a car dealership and thousands more at retailers like Target, TJ Maxx, Coach, and Nordstrom Rack—purchases inconsistent with her normal spending habits, as noted in the complaint.
Discovery and Investigation
The homeowner only became aware of the scam after receiving a call from a jewelry store conducting due diligence on a customer who had used his name as their caller ID. This tip-off prompted the FBI to launch an investigation in January 2024, following the fraudulent sale of the home.
Text messages gathered by police reveal the group's coordination. After submitting escrow information, one conspirator texted their group chat: 'Together we will make this profitable for us.' Days later, they allegedly recruited two men to pose as the buyer and seller for notary purposes, providing them with fake licenses. Cardona also allegedly directed an employee to create a fake down payment receipt to ensure loan qualification, with Akopyan acting as the fraudulent mortgage broker.
Arrests and Legal Consequences
Following the investigation, Cardona, Reyes, and Akopyan were all arrested. Tikriti, aged 54, remains at large. Each defendant faces a maximum of 30 years in federal prison if convicted. The fallout from the scam is severe: the man who believed he had legitimately purchased the home is now obligated to repay his $975,000 mortgage, while the original homeowner has lost all ownership rights to his property.
This case highlights the growing risks of identity theft in the real estate sector, underscoring the need for heightened vigilance and robust verification processes to prevent such devastating financial losses.
