LOS ANGELES - Federal authorities have charged a licensed real estate broker and three others in a sophisticated "home stealing" scheme involving a $1.5 million Burbank residence.
The group allegedly used stolen identities to sell the home without the owner’s knowledge, pocketing nearly $1 million in illicit loan proceeds.
What we know:
Three defendants—Glenis Cardona, Ivan Reyes, and Arshak Akopyan—were arrested on Wednesday following a federal criminal complaint. A fourth defendant, Basil Tikriti, is currently a fugitive.
Prosecutors allege that between late 2023 and January 2024, the group used the stolen identities of the actual homeowner and a purported buyer to facilitate a fraudulent sale.
The criminal complaint details a web of forged documents, including false identity cards and deeds.
According to the affidavit, "Cardona purported to represent the victim seller and the victim buyer – even though neither authorized the transaction." Federal officials emphasized that "Every defendant is presumed to be innocent until and unless proven guilty."
Cardona, a broker operating Golden Escrow, allegedly controlled the transaction and directed $975,000 in loan proceeds to various third-party entities.
Tikriti is accused of impersonating both the buyer and seller, while Reyes and Akopyan acted as mortgage brokers to secure funding from an unwitting lender.
What we don't know:
Authorities continue to search for Tikriti.
It's unclear how the defendants originally obtained the highly sensitive personal identification information of the victim homeowner and the purported buyer.
What's next:
The three defendants in custody were scheduled to make their first appearances in federal court on Thursday. If convicted of the charges, each defendant faces a statutory maximum sentence of 30 years in federal prison.
The FBI, supported by the Burbank Police Department, continues to investigate the case and search for Tikriti.
The Source: This report is based on a federal criminal complaint and supporting affidavits filed by the United States Attorney’s Office for the Central District of California.