Burbank real estate fraud arrest: Broker Glenis Cardona and two others charged in alleged $1.5 million stolen‑identity home sale
Lede: A licensed real estate broker, Glenis Cardona, and two associates were arrested in February 2026 on federal charges accusing them of orchestrating a forged, stolen‑identity sale of a $1.5 million Burbank home that yielded nearly $975,000 in loan proceeds.
Key takeaways
- Arrests: Glenis Cardona (63), Ivan Reyes (50), and Arshak Akopyan (46) were arrested Feb. 11, 2026; a fourth suspected co‑conspirator, Basil Tikriti (54), remains at large — see U.S. Department of Justice and MyNewsLA.
- Loss and funding: Defendants allegedly used forged documents and stolen identities to obtain roughly $975,000 on a home valued at $1.5 million.
- Alleged scheme period: Investigators say the fraud ran from late 2023 until January 2024, according to the federal complaint.
- Regulatory background: Cardona and her company, Golden Escrow, have prior DRE actions, including a 2020 desist‑and‑refrain order and a 2024–25 DRE accusation alleging mishandled escrows.
Arrests and federal charges
Who was arrested: Federal authorities arrested Glenis Cardona (63, Highland), Ivan Reyes (50, Van Nuys), and Arshak Akopyan (46, Northridge) on Feb. 11, 2026. A fourth suspect, Basil Tikriti (54, Marina del Rey), is reported to be at large. The U.S. Attorney’s Office in the Central District of California led the case (U.S. Department of Justice).
Charges alleged include wire and mail fraud, identity theft and related offenses tied to the fraudulent sale and loan funding. Prosecutors say the arrests followed a federal probe into false documents and misrepresentations to a lender and title company.
Alleged scheme and roles
According to the federal complaint, investigators allege the defendants first ordered a property report to check for liens and encumbrances. They then prepared a suite of forged paperwork — false IDs, a purchase agreement, a grant deed, a deed of trust and loan applications — all allegedly falsely notarized and submitted to a lender that funded approximately $975,000.
“Cardona represented both the victim seller and the purported buyer without proper authorization, controlled escrow, and directed disbursement of loan funds to third parties,” the complaint alleges.
Alleged roles:
- Glenis Cardona / Golden Escrow: Ordered reports, prepared or facilitated forged conveyance documents, allegedly controlled escrow and directed disbursements.
- Ivan Reyes & Arshak Akopyan: Accused mortgage brokers who allegedly submitted fake loan applications.
- Basil Tikriti: Accused of impersonating the true homeowners using stolen identities.
Federal investigation and process
The U.S. Attorney’s Office for the Central District of California brought the case; the complaint alleges wire/mail fraud and identity theft stemming from the false sale and loan. Officials say the arrests came after an investigation into forged documents and misrepresentations supplied to a lender and title company (U.S. Department of Justice).
Next steps: Prosecutors noted no new court dates or additional arrests were listed in the initial federal release; further proceedings will determine whether charges proceed to trial.
Regulatory history of Cardona and Golden Escrow
Records from the California Department of Real Estate hearing file H-42207 LA (2020) show a desist‑and‑refrain order requiring Cardona to stop offering third‑party escrow services after examiners found violations under Financial Code section 17006(a)(4). The order cited unauthorized escrows tied to properties including 4116 Kenway Avenue in Los Angeles.
A later DRE accusation (H-43168 LA, 2024–25) alleges mishandled escrows, supervisory lapses under Regulation 2725, acceptance of unapproved instructions (Reg. 2950(b)) and unauthorized disbursements totaling more than $280,000. That filing references roughly $13 million in 34 escrows tied to a Bank of America account ending in 3352.
Civil litigation involving Cardona and Golden Escrow
Court records show Cardona and Golden Escrow have been named in civil suits over escrow and transaction disputes. In case 24STCV05010, Judge Stephen I. Goorvitch noted Cardona owned and operated Golden Escrow and described the company’s disputed role in buyer claims (Rulings.law). Related business disputes list Golden Escrow as a party in actions involving A Plus Majestic and Morgan Picks Two, LLC (Trellis law document).
Why investigators say the scheme worked
Federal investigators point to systemic weak spots: reliance on identity documents, trust in notarized signatures, and funding that can occur before thorough title verification. By producing convincing forged deeds and notarizations and controlling escrow, the defendants allegedly created the appearance of a legitimate closing and induced a lender to fund the loan.
Local reaction and broader implications
Industry response: Local real estate attorneys and title sources said the case highlights how quickly bad actors can exploit procedural gaps; title companies generally verify ownership and liens, but convincing forgeries can still cause harm.
Economic and regulatory impact: A scheme that pockets nearly $1 million in loan proceeds and targets a $1.5 million home can ripple through the local market — lenders and title insurers may tighten controls, potentially slowing escrows and increasing costs for legitimate buyers. The arrests are likely to prompt renewed DRE attention and possible policy reviews of escrow exemptions and oversight.
Social effects: Homeowners victimized by identity theft and forged deeds may need help clearing fraudulent liens; community groups and legal‑aid organizations could see increased demand for guidance.
Practical steps for residents
- Pull a property profile or title report to verify chain of title and recorded liens.
- If you suspect identity theft or an unauthorized conveyance, contact your title company, mortgage lender or local law enforcement immediately.
- Consider placing fraud alerts with credit bureaus and consult the U.S. Attorney’s Office release or the California Department of Real Estate files for guidance.
Sources and further reading
- U.S. Department of Justice, U.S. Attorney’s Office, Central District of California: Real estate broker, 2 others arrested, complaint charging them with fraudulently selling $1.5 million home
- MyNewsLA reporting on the arrests and scheme
- California Department of Real Estate hearing file H-42207 LA (2020)
- California Department of Real Estate hearing file H-43168 LA (2024–25 accusation)
- Rulings.law, case 24STCV05010 (Mar. 5, 2025)
- Trellis law document in Morgan Picks Two, LLC vs. A Plus Majestic
Reporting drew on the U.S. Attorney’s Office press release and local reporting by Times Media Service and MyNewsLA. Documents from the California Department of Real Estate and court filings were reviewed for background detail.
