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Homeowner loses $1.5million California property in identity theft scam

Homeowner loses $1.5million California property in identity theft scam

California Homeowner Loses $1.5 Million Property in Devastating Identity Theft Scam: What You Need to Know to Protect Your Assets

For California residents concerned about protecting their property and legacy from fraud

Source: Daily Mail – Homeowner Loses Million in Fraudulent Real Estate Scam

What Happened: A Burbank Homeowner’s Nightmare

A California homeowner lost their $1.5 million Burbank property after falling victim to an elaborate identity theft and real estate fraud scheme. Real estate agent Glenis Cardona, 63, along with accomplices Ivan Reyes, 50, Arshak ‘John’ Akopyan, 46, and Basil Tikriti, 54, allegedly orchestrated the sale of the home without the owner’s knowledge or consent.

How Can Someone Steal Your Property? Understanding the Fraud Scheme

The perpetrators used a sophisticated multi-step process that exploited vulnerabilities in the real estate transaction system:

  • Identity Theft: The group stole the identities of both the homeowner and a fake buyer to secure a $975,000 loan in January 2024
  • Document Fabrication: They created fraudulent identity cards, purchase agreements, grant deeds, deeds of trust, and loan applications with false notarizations
  • Professional Insider Access: Cardona used her company, Golden Escrow, to obtain property lien reports, giving the scheme legitimacy
  • Money Laundering: Once the loan was approved, Cardona allegedly laundered more than $961,000 through third-party accounts before distribution

    • The fraudsters specifically targeted this property because it had only one lien on it for child support, making it easier to manipulate.

    Who Are the Victims in Real Estate Identity Theft?

    This case created multiple victims:

  • The original homeowner lost ownership of their $1.5 million property
  • An innocent purchaser who believed they legitimately bought the home is now obligated to pay back a $975,000 mortgage for a property they don’t legally own

    • The homeowner only discovered the fraud after receiving a call from a jewelry store conducting due diligence when someone used his name as their caller ID.

    What Are the Criminal Consequences for Real Estate Fraud in California?

    The FBI launched an investigation in January 2024, resulting in the arrest of Cardona, Reyes, and Akopyan. Tikriti remains at large. Each defendant faces a maximum of 30 years in federal prison if convicted.

    Text messages recovered during the investigation revealed the conspirators’ intent, with one message stating: “Together we will make this profitable for us”.

    How Can California Property Owners Protect Themselves from Title Fraud?

    If you own real estate in California, consider these protective measures:

  • Monitor Your Property Records: Regularly check county recorder’s office records for any unauthorized filings or changes to your property title
  • Title Monitoring Services: Enroll in title monitoring services that alert you to any recorded documents affecting your property
  • Secure Personal Information: Protect documents containing your Social Security number, property information, and identity credentials
  • Verify Unexpected Communications: Be suspicious of any unexpected calls, letters, or documents related to your property
  • Estate Planning Protection: Work with experienced estate planning attorneys to establish trusts and other legal structures that add layers of protection to your real estate assets

    • Can You Recover Stolen Property? The Legal Battle

    After many months of litigation, the original homeowner was eventually able to regain ownership of the property. However, this process was:

  • Lengthy and complex, requiring extensive legal intervention
  • Costly, involving attorney fees and court costs
  • Emotionally draining for all parties involved

    • The case demonstrates that while recovery is possible, prevention is far preferable to fighting fraud after it occurs.

    Why Estate Planning Matters More Than Ever for California Homeowners

    For California residents concerned about protecting their homes and assets from fraud, proper estate planning creates critical safeguards:

  • Trust Protection: Holding property in a properly structured trust adds verification requirements that make fraudulent transfers more difficult
  • Documentation: Comprehensive estate plans create clear records of ownership and authorized parties
  • Professional Oversight: Working with experienced estate planning attorneys ensures your assets have proper legal protection
  • Family Communication: Estate planning discussions help family members understand your assets and spot unauthorized activity

    • Protect Your Legacy: Schedule a Free Consultation

    If you’re a California resident concerned about protecting your property and ensuring your assets transfer safely to your loved ones, California Probate and Trust, PC offers comprehensive estate planning services designed to safeguard your legacy.

    Our experienced attorneys provide:

  • Free one-hour consultations to assess your specific situation
  • Transparent estate planning packages tailored to your needs
  • Trust creation and administration to protect real estate assets
  • Probate guidance when you need to navigate complex legal processes
  • Compassionate, client-focused representation

    • Don’t wait until it’s too late. Contact California Probate and Trust, PC today to schedule your free consultation and learn how proper estate planning can protect your home, your assets, and your family’s future.

    Call (866)-674-1130 or visit cpt.law to get started.

    Legal Disclaimer

    This article is provided for informational purposes only and does not constitute legal advice. The information presented here is based on publicly available news reports and should not be relied upon as a comprehensive analysis of the law or your specific situation. Every estate planning and asset protection case is unique and depends on individual circumstances. For personalized legal guidance regarding your property, estate planning, or asset protection needs, please consult with a qualified California attorney. California Probate and Trust, PC is available for consultations but reading this article does not create an attorney-client relationship.