Rey Grabato II added to FBI Most Wanted list for $650M fraud

Rey Grabato II, the former president and majority owner of National Realty Investment Advisors LLC (NRIA), has been added to the FBI’s Most Wanted Fraudsters list. He is accused of participating in a $650 million Ponzi scheme that allegedly defrauded approximately 2,000 investors between February 2018 and January 2022.

Federal prosecutors allege that Grabato and co-conspirator Thomas Nicholas Salzano used misleading representations to solicit investments for the NRIA Partners Portfolio Fund I LLC. Instead of generating profits, the operation allegedly relied on funds from new investors to pay earlier ones and misappropriated millions of dollars. Grabato also faces charges of conspiracy to commit securities fraud, wire fraud, and conspiracy to defraud the United States regarding taxes.

The FBI is offering a reward of up to $150,000 for information leading to his arrest and conviction. Grabato’s family in Mina, Iloilo, has confirmed he is currently in the Philippines. His father, Mayor Rey Grabato, and his brother, Christopher Rey Grabato, stated that he is recovering from a severe stroke that has left him partially paralyzed with limited mobility and cognitive function. The family noted they have not yet received official notice or summons from Philippine or United States authorities.