Reviewed by John Rowan, Licensed Arizona REALTOR® | ADRE-Approved Fraud School #525-9010 | APAAC Instructor
As home fraud cases continue to rise across the country, fraudsters are growing more sophisticated — and more brazen — in how they target their victims. Most homeowners assume that licensed real estate professionals exist to protect them. In some of the most alarming cases, however, those professionals turn out to be the fraudsters themselves. A federal case unsealed in Los Angeles in February 2026 is exactly that kind of case.
What Happened: A Burbank Home Sold Without Its Owner's Knowledge
On February 11, 2026, the U.S. Attorney's Office for the Central District of California announced the arrest of three individuals and the search for a fourth in connection with the fraudulent sale of a $1.5 million home in Burbank. The scheme involved stolen identities, forged documents, falsely notarized deeds, and an insider with direct control over the escrow process.
The three individuals taken into custody were:
- Glenis Cardona, 63, of Highland — a licensed California real estate broker who owned and operated Golden Escrow, with offices in Sherman Oaks and Downey
- Ivan Reyes, 50, of Van Nuys — a mortgage broker who submitted fraudulent loan applications on behalf of the scheme
- Arshak Akopyan, 46, also known as "John Akopyan," of Northridge — also a mortgage broker who submitted fraudulent loan applications
A fourth suspect, Basil Tikriti, 54, of Marina del Rey, was named in the complaint and remains at large as of the time of publication. According to prosecutors, Tikriti used the stolen identities of the actual homeowner and a purported buyer to impersonate both parties throughout the transaction.
How the Scheme Worked
According to an affidavit filed with the criminal complaint on January 30, 2026, the fraud was carried out between late 2023 and January 2024. The operation began with Cardona's company, Golden Escrow, obtaining a property lien report on the Burbank home — a standard step in real estate transactions that provided the group with detailed information about the property and its ownership.
From there, the four allegedly manufactured an entire fraudulent transaction from scratch. Forged documents included false identity cards, a purchase agreement, a grant deed, a deed of trust, and multiple loan applications. The deeds were falsely notarized and submitted to a mortgage lender, who unwittingly approved and funded a $975,000 loan believing the transaction to be legitimate.
Cardona, in her role controlling the escrow, allegedly represented both the "seller" and the "buyer" — neither of whom ever authorized, approved, or had any knowledge of the transaction. Once the lender deposited funds into escrow, Cardona reportedly directed the money through various third-party entities so that the four could collect the fraudulently obtained proceeds.
The Victims
This case produced four distinct categories of victims, all identified in the federal affidavit:
- The homeowner — a Burbank man whose property was sold out from under him without his knowledge or consent
- The victim buyer — a person whose identity was stolen and who was left legally responsible for repaying a $975,000 mortgage on a transaction they never entered into
- The mortgage lender — a lending company that funded the loan in good faith, relying on forged documents it had no reason to question
- The title company — an insurer that underwrote the transaction without any knowledge of its fraudulent nature
The case illustrates a critical vulnerability in real estate transactions: when a licensed professional with escrow access is allegedly complicit in the fraud, the usual safeguards built into the system — independent title review, lender verification, escrow oversight — can all be circumvented from the inside.
Prior Regulatory History
Court records and California Department of Real Estate filings reveal that Cardona and Golden Escrow were not unknown to regulators before this federal case. Cardona was the subject of a 2020 DRE desist-and-refrain order, and Golden Escrow faced a separate 2024–25 DRE accusation involving allegations of mishandled escrow funds. These prior regulatory actions did not result in license revocation, allowing Cardona to continue operating as a licensed broker and escrow agent — a detail that speaks to the limits of regulatory oversight in protecting consumers from professional misconduct that rises to criminal level.
Verifying the regulatory standing of any real estate professional before a transaction is something every buyer, seller, and homeowner has the right to do. In California, license status, disciplinary history, and complaint records are publicly available through the Department of Real Estate at dre.ca.gov. In Arizona, the same information is available at azre.gov. Every state maintains a comparable public record system.
Investigation Status
The FBI, assisted by the Burbank Police Department, continues to investigate the case. Basil Tikriti remains at large. As with all criminal proceedings, each defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt. If convicted, each faces a statutory maximum of up to 30 years in federal prison, depending on charges.
What This Case Tells Us About Fraud in 2026
This is not an isolated incident. It is a window into how deed fraud and identity-based real estate schemes work at their most sophisticated level — and why relying solely on the professionals in a transaction for protection is not enough.
The Burbank case required no forced entry, no physical confrontation, and no interaction with the actual homeowner. It required a lien report, some forged documents, a complicit escrow operator, and two mortgage brokers willing to submit fraudulent applications. The entire scheme was completed on paper. The homeowner had no idea his property had been sold until after the fact.
This is why early detection matters more than after-the-fact legal remedy. Reversing a fraudulent deed transfer — even when the fraud is proven — can take months or years, involve multiple legal proceedings, and cost the victim tens of thousands of dollars in attorney fees. No outcome fully restores what was lost.
What Every Homeowner Should Do Right Now
You don't have to wait for a fraud to happen to you. The tools to detect unauthorized activity on your property exist today, they are free, and they take minutes to set up.
- Enroll in your county recorder's property alert system. In California, most counties offer free recording notification services. Los Angeles County homeowners can enroll through the LA County Registrar-Recorder/County Clerk's website — search "LA County property recording notification" for the current enrollment page. These systems send an alert any time a document is recorded against your property, giving you the chance to flag unauthorized activity before the damage compounds.
- Run a free deed search at homefrauddefense.org. Our platform covers 158 million U.S. properties across all 50 states. Search your address to verify ownership, review transfer history, and receive an instant Property Visibility Check — a proprietary visibility report that flags elevated risk based on equity exposure, absentee ownership patterns, and rapid transfer history.
- Scan any suspicious document or communication immediately. The HFD Fraud Scan at homefrauddefense.org analyzes any message, email, link, or document for fraud indicators in seconds — free.
- Be especially alert if you own property you don't regularly visit. Vacant land, rental properties, second homes, and properties in probate are the most frequently targeted. The Burbank homeowner had no idea his property was being sold. Enrolling in your county recorder's free document-alert program is the most effective early-warning step homeowners can take on their own.
Real estate fraud does not discriminate. It targets occupied homes, vacant parcels, rental properties, and estates. It is carried out by strangers — and, as this case demonstrates, sometimes by licensed professionals. Vigilance, free county recorder alerts, and the right educational tools are the most effective protections available to homeowners.
Grace McKennon
Contributing Editor · Home Fraud Defense™ — Grace covers real estate fraud legislation, consumer protection, and property crime prevention.
John Rowan — Reviewer
Licensed Arizona REALTOR®, founder of Home Fraud Defense™, ADRE-approved fraud school operator (School #525-9010), and APAAC-certified instructor teaching real estate fraud CLE to Arizona prosecutors.
This article is based on the federal criminal complaint and supporting affidavits filed by the U.S. Attorney's Office for the Central District of California on January 30, 2026, and the public arrest announcement issued February 11, 2026. All defendants are presumed innocent unless and until proven guilty. Case status reflects information available as of April 2026.