Two Los Angeles men are each expected to plead guilty Wednesday to a federal charge alleging they helped operate a “home stealing” scheme involving a $1.5 million Burbank house whose owner had his property sold out from under him.
Ivan Reyes, 50, of Van Nuys, and Basil Tikriti, 54, of Marina del Rey, both signed plea agreements with the government, according to court records.
Reyes and Tikriti agreed to enter a plea in Los Angeles federal court to a charge of wire fraud affecting a financial institution.
Prosecutors contend that between late 2023 and January 2024, the defendants 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.
The scheme’s alleged leader, Glenis Cardona, 63, of Highland, in San Bernardino County, allegedly used stolen identities to sell the home without the owner’s knowledge, pocketing nearly $1 million in illicit loan proceeds.
Cardona allegedly used her company, Golden Escrow, which has offices in Downey and Sherman Oaks, to acquire a report evaluating whether any money was owed on the Burbank property.
Federal prosecutors said Cardona purported to represent the home’s seller and buyer — even though neither one authorized the transaction — and controlled escrow.
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 property; the victim buyer, who was obligated to pay back the $975,000 mortgage; the mortgage lending company that unwittingly approved and funded the loan; and the title company that unknowingly insured the transaction, according to the U.S. Attorney’s Office.
Cardona pleaded not guilty last month to wire fraud and aggravated identity theft. A trial date is set for March 2027.