Henrik Sardariani, 44, of Glendale has pleaded guilty to three counts of wire fraud, one of conspiracy and one of money laundering for defrauding several private lenders out of $5 million.
Beginning in 2007, Sardariani created forged documents to obtain loans from Foremost Investment Properties, Bith LLC, and Money USA. He used almost $2 million of the funds to pay his horse racing debts through escrow officer Wanda Tenney, 65, who has pleaded guilty for her role and who is yet-to-be sentenced (escrow fraud). The rest of the money went to himself and his relatives.
Sardariani faces up to 75 years in federal prison when he is sentenced. His brother Hamlet Sardariani, 42, has been charged and is awaiting trial.
Read the original article in the Glendale News Press.