Burbank home fraud arrests: Broker Glenis Cardona and two men charged in alleged $1.5 million fake sale using stolen IDs
Federal authorities arrested real estate broker Glenis Cardona and two associates on Feb. 11, 2026, accusing them of a sophisticated $1.5 million Burbank home fraud scheme that used stolen identities and forged documents to obtain about $975,000 in loan proceeds.
Key takeaways
- Date of arrests: Feb. 11, 2026 — U.S. Attorney’s Office press release
- Alleged scheme: Fraudulent sale of a Burbank home valued at roughly $1.5 million, producing about $975,000 in illicit loan proceeds (late 2023–Jan. 2024) — local reporting
- Primary defendants: Glenis Cardona (63), Ivan Reyes (50), Arshak Akopyan (46); a fourth suspect, Basil Tikriti (54), remained at large — DOJ release and reporting
The arrests and allegations
Federal prosecutors say the scheme began in late 2023 and continued into January 2024. Investigators with the U.S. Attorney’s Office for the Central District of California allege that Glenis Cardona, a licensed broker who runs Golden Escrow, used the escrow company to make the sale appear legitimate and to move money after lenders funded the loan. See the DOJ press release for the criminal complaint and related allegations.
What Cardona is accused of
Cardona, 63, of Highland, is accused of obtaining a title-lien report to check for liens or judgments on the Burbank property. Prosecutors allege she then purported to represent both seller and buyer without authorization and directed wired funds to third-party entities after lenders funded the loan, allowing defendants to collect proceeds. (See local coverage MyNewsLA.)
How investigators say the fraud was done
According to the Justice Department, the defendants prepared and used a suite of forged documents: false identity cards, a bogus purchase agreement, a forged grant deed, a deed of trust, and loan applications. The defendants also allegedly falsely notarized deeds to make the transaction appear lawful. “These false documents and information were submitted to a lender who funded the loan,” the DOJ release states.
Co-conspirators and identity theft
Investigators allege the scheme relied on identity theft and the cooperation of people acting as mortgage brokers. Van Nuys resident Ivan Reyes (50) and Northridge resident Arshak Akopyan (46) are accused of submitting fraudulent loan applications to induce lenders to fund the sale. A fourth suspect, Basil Tikriti (54) of Marina del Rey, allegedly used stolen identities to impersonate both the actual homeowner and the buyer and remained at large at the time of the arrests. (Local reporting: MyNewsLA.)
Defendants and alleged roles
- Glenis Cardona, 63, Highland — Owner/operator of Golden Escrow (Sherman Oaks and Downey offices). Prosecutors say she controlled the escrow process and funneled funds to third parties. (DOJ; local reporting)
- Ivan Reyes, 50, Van Nuys — Alleged mortgage broker who submitted fraudulent loan paperwork. (reporting)
- Arshak Akopyan, 46, Northridge — Alleged mortgage broker who helped solicit funds from lenders. (reporting)
- Basil Tikriti, 54, Marina del Rey — Accused of using stolen identities to pose as seller and buyer; wanted by authorities. (reporting)
Prior regulatory problems for Cardona
This is not Cardona’s first regulatory issue. In 2020, the California Department of Real Estate issued a desist and refrain order against Cardona and Golden Escrow for conducting unauthorized third‑party escrow services, documented in the DRE record: desist and refrain order (DRE).
The DRE later filed an accusation in a separate matter alleging Cardona mishandled escrow funds across multiple transactions. During an audit the agency found she closed roughly 34 escrows and collected about $13 million in escrow funds; the audit recorded unauthorized disbursements totaling at least $324,362.92. Relevant documents are on file with the DRE: DRE accusation and audit findings.
The legal process ahead
Federal authorities have filed a criminal complaint and made arrests; the U.S. Attorney’s Office is handling prosecution. Defendants will face the federal court process where prosecutors present evidence and defendants may respond. For charging details and court dates, see the DOJ press release.
“Court records and charging documents are public and will provide detailed allegations and counts as the case moves forward.”
Implications
Economic impact
Real estate identity theft and fraud can raise costs for homeowners, lenders and title companies. When lenders fund loans on false documents, losses can ripple through mortgage markets and lead to higher premiums or tighter lending rules — making borrowing harder and more expensive.
Political consequences
The case raises questions about oversight of escrow and title services. For a politically moderate conservative audience, the story highlights priorities such as protecting private property rights and strengthening verification rules and penalties. Regulators may increase audits and licensing checks.
Social effects
Homeowners who monitor title records, mail and credit reports are less likely to be victims, but many do not. Cases like this can erode public trust in the housing market and in professionals who handle money and documents, suggesting a need for public education and outreach.
Cultural relevance
Property ownership is a core American value; fraud targeting homeowners can provoke strong public reaction. Communities relying on home equity for retirement and family stability may feel an outsized emotional impact from forged sales and stolen identities.
Practical applications
Lenders, title companies and escrow firms can tighten controls to reduce risk: stronger identity checks, more rigorous notarization practices, cross-checks on lien reports, and better tracking of funds after closing. Homeowners should consider title-monitoring services and alerts to detect changes early.
Sources and documents
- U.S. Department of Justice press release: “Real estate broker, 2 others arrested; complaint charging them with fraudulently selling $1.5M home”
- MyNewsLA reporting on the arrests and alleged scheme
- California Department of Real Estate desist and refrain order (Cardona/Golden Escrow)
- California Department of Real Estate accusation and related documents (escrow audit findings)
Court records and charging documents are public and can be followed in filings with the federal clerk’s office for the Central District of California for the most current information.
