A licensed real estate broker and two others were arrested Wednesday on federal charges alleging they fraudulently sold a $1.5 million Burbank house — whose owner had his home sold out from under him — by using stolen identifies to obtain a near-$1 million loan.
The defendants are:
— Glenis Cardona, 63, of Highland, a licensed real estate broker who operates an escrow business;
— Ivan Reyes, 50, of Van Nuys; and
— Arshak Akopyan, 46, also known as “John Akopyan,” of Northridge.
Authorities are also searching for Basil Tikriti, 54, of Marina del Rey, according to the U.S. Attorney’s Office.
According to an affidavit filed with the complaint, the defendants in late 2023 and January 2024 successfully executed the fraudulent sale of a $1.5 million home in Burbank, through which they secured about $975,000 in loan proceeds.
To complete the transaction, they allegedly used the stolen identities of the victim homeowner and a purported buyer. Through her company — Golden Escrow, which has offices in Downey and Sherman Oaks — Cardona obtained a report to evaluate whether the Burbank property was encumbered with liens, such as legal judgments, prosecutors allege.
The defendants also allegedly prepared fraudulent documents, including false identity cards, a purchase agreement, a grant deed, a deed of trust and loan applications, and falsely notarized the deeds. The false documents and information were submitted to a lender who funded the loan, court papers show.
Federal prosecutors say Cardona purported to represent the victim seller and the victim buyer — even though neither authorized the transaction — and controlled escrow.
Tikriti is suspected of having used the victims’ stolen identities to impersonate both the victim seller and the victim buyer.
Reyes and Akopyan acted as mortgage brokers and submitted fraudulent loan applications to solicit lenders to fund the illicit transaction, the U.S. Attorney’s Office alleges.
After the victim lenders deposited the funds in escrow, Cardona directed the funds to various third-party entities so the schemers could collect their fraudulently obtained money, authorities contend.
The victims include the owner of the house, who lost ownership of the home; the victim buyer, who became obligated to pay back the $975,000 mortgage; the lender, a mortgage lending business that unwittingly approved the funded the loan; and the title company, who unwittingly insured the transaction, according to the U.S. Attorney’s Office.
If convicted, each defendant could face up to 30 years in federal prison, prosecutors noted.