Burbank home fraud: Broker and two others arrested in alleged $1.5 million fake sale tied to Golden Escrow
Federal agents arrested real estate broker Glenis Cardona and two others in an alleged scheme to fraudulently sell a one-point-five-million-dollar Burbank home, using forged documents and stolen identities to secure about $975,000 in loan proceeds.
- Arrests: Glenis Cardona, 63 (Highland); Ivan Reyes, 50 (Van Nuys); Arshak Akopyan, 46 (Northridge) — arrested Feb. 11, 2026; a fourth suspect, Basil Tikriti, 54 (Marina del Rey), remains at large. See the U.S. Department of Justice notice and the MyNewsLA report.
- Alleged crime: A purported sale of a $1.5 million Burbank property the defendants did not own, supported by forged deeds, fake IDs and loan paperwork that produced roughly $975,000 in proceeds.
- Company implicated: Golden Escrow — Cardona’s company, with offices reported in Sherman Oaks and Downey, is central to the transactions.
Details of the alleged scheme
Federal investigators say the conduct ran from late 2023 through January 2024. According to the complaint filed by the U.S. Attorney’s Office, the defendants prepared and submitted a package of forged documents — including false identity cards, a purchase agreement, a grant deed, a deed of trust and loan applications — to a lender and a title company.
“These false documents and information were submitted to a lender who funded the loan,” the Department of Justice wrote in its release.
Investigators allege Cardona used Golden Escrow to obtain a property report to confirm there were no reported liens, then controlled the escrow process while presenting herself as representing both the homeowner and a buyer — even though neither party had authorized a sale. Reyes and Akopyan are accused of acting as mortgage brokers who submitted the fraudulent loan paperwork; investigators say Tikriti impersonated victims using stolen identities.
After roughly $975,000 in loan proceeds were deposited into escrow, Cardona allegedly directed disbursements to third-party entities so the group could collect the funds. Read the DOJ press release for full complaint details and the MyNewsLA article summarizing local reporting.
Background on Cardona and Golden Escrow
Records show Cardona and entities tied to her name drew regulatory scrutiny before this federal complaint. The California Department of Real Estate (DRE) previously took action and filed accusations alleging unlicensed or improper escrow activity.
- 2020 DRE order: A desist-and-refrain order related to performing third-party escrow services without proper licensing is recorded as DRE hearing file H-42207 LA.
- 2024–2025 accusation: The DRE alleges mishandled escrows, unauthorized disbursements (more than $280,000 in one transaction), insufficient supervision and collection activity across many escrows; see DRE hearing file H-43168 LA.
- Civil filings: Later civil court records and rulings reference Cardona’s role at Golden Escrow; see the rulings file and a Trellis document.
Investigators, charges and open questions
The complaint filed in the U.S. Attorney’s Office draws on an affidavit describing forged notarizations and unauthorized transactions. Federal jurisdiction is tied to alleged interstate identity theft, wire transfers and bank fraud connected with a mortgage. At present, public reports have not shown updated court dates, formal indictments or the disposition of Basil Tikriti, who remains at large.
What prosecutors allege: false notarizations, fabricated loan documents and misdirection of escrow disbursements. For the official complaint and background, see the U.S. Attorney’s Office notice.
Why this matters locally
This case threatens the basic trust underlying property markets. Property ownership is often a family’s largest investment; when that system is exploited, consequences ripple through neighborhoods, lenders and county records.
Key local implications:
- For lenders and title companies: forged deeds and fake IDs can bypass checks when processes are rushed, increasing potential losses and leading to tighter verification and higher fees.
- For homeowners: identity theft can be used to attempt property theft; owners should be vigilant about county records and suspicious communications.
- For real estate professionals: the arrest of a licensed broker tied to an escrow firm raises questions about licensing oversight and enforcement.
Practical steps for homeowners
Protective actions residents can take include:
- Regularly check county property records to confirm ownership and lien status.
- Sign up for property-monitoring services where available.
- Use trusted, licensed local title and escrow companies; verify licensing and complaints with state regulators.
- Ask lenders how they verify identity and deed authenticity before completing transactions.
- Report suspicious mail, calls or notices about your property to local law enforcement and your county recorder.
What to watch next
Follow court filings in the U.S. District Court for developments — indictments, arraignments and any forfeiture actions. Monitor DRE announcements for licensing actions related to Golden Escrow and watch for statements from banks or title insurers about losses or policy changes.
Federal and local agencies typically release more details as a case moves into formal charging and trial stages; see continuing coverage at MyNewsLA and the DOJ release.
