Burbank Home Fraud: Highland Broker Glenis Cardona Arrested in Alleged $1.5 Million Fake Sale
A Highland-based real estate broker, Glenis Cardona, 63, was arrested Feb. 11, 2026, accused of orchestrating a scheme that used stolen identities and forged documents to fraudulently sell a $1.5 million Burbank home and obtain nearly $975,000.
Key takeaways
- Arrests: Glenis Cardona (63), Ivan Reyes (50) and Arshak Akopyan (46) were arrested; Basil Tikriti (54) is wanted. Sources: U.S. Attorney’s Office press release and MyNewsLA.
- Allegation: The group is accused of fraudulently selling a home they did not own using stolen IDs and forged documents to secure roughly $975,000 in loan proceeds.
- Timeline: The scheme allegedly ran from late 2023 through January 2024, according to federal court papers.
- Regulatory history: Cardona operated Golden Escrow and has prior Department of Real Estate actions, including a 2020 desist order and later accusations of mishandled escrows.
The alleged scheme: how investigators say it worked
Federal prosecutors say Cardona used Golden Escrow to pull a property report to confirm the Burbank house was clear of liens, then prepared a package of forged paperwork to make it appear the homeowner had approved a sale. Investigators allege the fake package included false identity cards, a fabricated purchase agreement, a forged grant deed, a forged deed of trust, phony loan applications and some falsely notarized documents.
Prosecutors contend those false documents were submitted to a lender that ultimately funded about $975,000 in loan proceeds. According to the complaint, once funds hit escrow, Cardona directed disbursements to third parties tied to the scheme while others impersonated the homeowner and seller roles.
“These false documents and information were submitted to a lender who funded the loan.”
Arrests and criminal charges
Cardona, Reyes and Akopyan were arrested on Feb. 11, 2026, after a federal complaint was unsealed. The complaint charges them with conspiracy to commit wire fraud, making false statements in connection with loan applications, and related offenses. The Justice Department cautioned that a fourth suspect, Basil Tikriti, remains at large.
Note: The complaint and press release are the primary sources of the allegations; no conviction has been entered and the defendants are presumed innocent until proven guilty.
Background on Glenis Cardona and Golden Escrow
Public records show Cardona has a long history in real estate and escrow services with prior regulatory scrutiny. In 2020 the California Department of Real Estate hearing file H-42207 LA (2020 desist order) found she acted outside exemptions for third‑party escrow services.
More recent DRE accusations (2024–2025) allege Cardona, doing business as Golden Escrow and Cardona Investments A Real Estate Co., mishandled roughly 34 escrows, including unauthorized disbursements (one over $280,000), inadequate supervision, and lapses in controls and signatures. See H-43168 LA (2024–2025) for details.
Civil court records and related filings also tie Cardona’s name to disputed transactions and depositions that add context to the regulatory history.
What federal prosecutors say
The U.S. Attorney’s Office in Los Angeles described the actions as a coordinated effort to deceive lenders, title companies and the homeowner. Prosecutors emphasize forged deeds and loan documents were central: obtain a lien report, prepare and notarize forged title documents, submit phony loan applications, and divert funds once escrow was in control.
For the U.S. Attorney’s summary, see the official release: U.S. Attorney’s Office press release.
Risks to homeowners, lenders and the title industry
- Homeowners: Victims can be blindsided and face lengthy legal battles to clear title and recover losses even after fraud is detected.
- Lenders: Financial exposure increases when loans are underwritten on falsified documents; title insurance may mitigate but triggers complex claims.
- Title and escrow firms: Reputational and regulatory risk grows; the case highlights the need for stricter compliance, identity verification, and notary oversight.
Implications for Hesperia, California
Economic impact: Scams like this can ripple beyond the immediate property. Local lenders and insurers may tighten underwriting and raise fees, leading to higher costs or longer waits for buyers in Hesperia.
Property rights and local trust: Allegations that an escrow operator used forged documents to divert nearly $1 million threaten secure property rights — a core concern for residents who prioritize clear title and dependable escrow practices.
Political consequences: County and city officials may face pressure to strengthen enforcement of licensing rules and increase resources for prosecutors and regulators to deter fraud.
Social effects: Buyers may become more cautious. Seniors and veterans, large local demographics, should be especially vigilant against identity theft and title fraud.
Practical steps for Hesperia residents
- Verify identity: Insist on seeing original ID documents and confirm notary credentials.
- Monitor title: Pull regular title and lien reports on your property.
- Choose trusted partners: Work with lenders and title companies with strong local reputations and transparent escrow controls.
- Report suspicious activity: Contact local law enforcement, the California Department of Real Estate (DRE hearing file), and the U.S. Attorney’s Office (DOJ press release).
Sources and further reading
- U.S. Department of Justice, U.S. Attorney’s Office, Central District of California press release
- MyNewsLA report
- California Department of Real Estate hearing file H-42207 LA (2020 desist order)
- California Department of Real Estate hearing file H-43168 LA (2024–2025 accusations)
- Related civil court filings and rulings
- Additional court document: Trellis declaration
- Related Trellis case filing
Reporting note
The defendants are charged in a federal complaint. Allegations in this article are based on documents filed by prosecutors and public records. No finding of guilt has been made — the defendants are presumed innocent until proven guilty in court.
