| Photo via FBI
NEW YORK — Rey Grabato II, a U.S.-based Filipino businessman and son of Mina, Iloilo Mayor Rey Grabato, has been placed on the FBI’s Most Wanted Fraudsters list after being charged in a massive, multi‑year investment scheme that allegedly defrauded thousands of investors across the United States. The FBI is offering up to $150,000 for information leading to his arrest and conviction.
Grabato, who previously served as president and majority owner of National Realty Investment Advisors LLC (NRIA), a Secaucus, New Jersey‑based real estate investment firm, is accused of orchestrating a scheme that defrauded roughly 2,000 investors, including hundreds in New Jersey, between February 2018 and January 2022. According to the FBI, Grabato and co‑defendant Thomas Nicholas Salzano allegedly misled investors and diverted more than $650 million during the four years.
Federal Charges and Arrest Warrant
The U.S. District Court in Newark issued a federal warrant for Grabato’s arrest on October 12, 2022. He faces multiple felony counts, including: conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, Wire fraud, and Conspiracy to defraud the United States with respect to tax.
Federal investigators say Grabato made false representations about the value of NRIA’s investment fund to acquire ownership stakes in real estate‑related companies, thereby misleading investors about the firm’s financial health and prospects.
In addition to the alleged investor fraud, Grabato is accused of attempting to evade $26 million in outstanding tax liabilities over 15 years, according to the FBI and the U.S. Department of Justice.
Background and Family Ties
Grabato hails from Mina, Iloilo, where his father, Rey Grabato Sr., currently serves as mayor and his mother, Lydia Grabato, is a former mayor of the same town. His family told reporters that he returned to Mina in May 2022 to recover from brain surgery following an accident in the United States.
FBI Statement and Public Appeal
The FBI describes Grabato as a fugitive who “remains at large” and is believed to have fled after federal charges were filed. In its public notice, the agency emphasized the scale of the alleged fraud and urged the public to come forward with information that could lead to his capture.
“Fraud schemes of this magnitude devastate families and communities,” an FBI spokesperson said in the agency’s bulletin. “We are committed to bringing Mr. Grabato to justice and holding accountable those who exploit investors’ trust.”
Impact on Investors
The alleged scheme affected investors across multiple states, with New Jersey bearing a significant portion of the losses. Many victims reportedly invested their retirement savings and other long‑term financial assets in NRIA’s offerings, believing the company’s promotional claims about high returns and secure real estate holdings.
Federal authorities continue to investigate the full extent of the losses and are working with affected investors as part of ongoing proceedings.
