NJ Scammer Who Stole Millions Just Landed on FBI’s Most Wanted
FBI Adds Alleged $650 Million Scammer to Most Wanted Fraudsters List
Who Is Rey Grabato II?
Imagine someone telling you they have a magic money machine that can turn your savings into a fortune. You trust them, hand over your hard-earned cash, and then—poof!—they disappear with everyone’s money.
That’s basically what the FBI says Rey Grabato II did. He’s now on the FBI’s Most Wanted Fraudsters list for allegedly running a massive investment scam.
IMPORTANT POINT
Grabato is innocent until proven guilty in a court of law. These are allegations made by the FBI and federal prosecutors.
What Happened? The Simple Version
The Scheme in Plain English
Think of it like this: Grabato ran a company called National Realty Investment Advisors. He told people:
"Give me your money, and I’ll invest it in real estate. Your investment will grow big and fast!"
But the FBI says he was lying about how much money the company actually had. Here’s what allegedly happened:
| What He Said | What the FBI Says Really Happened |
|---|---|
| "Our fund is worth millions!" | He lied about the fund’s value |
| "I’ll buy stakes in real estate companies" | He used fake numbers to trick other companies |
| "Your money is safe" | He took over $650 million from investors |
The Numbers Are Huge
- 2,000 investors allegedly tricked
- Hundreds of victims in New Jersey alone
- Over $650 million stolen (that’s 650 million dollars!)
- Time period: February 2018 to January 2022 (almost 4 years)
Wait, There’s More: The IRS Scheme
Grabato didn’t just allegedly scam regular people. The FBI says he also tried to cheat the government out of $26 million in taxes over 15 years.
ELI5 EXPLANATION
The IRS is the tax collector for the U.S. government. If you owe taxes and don’t pay, that’s illegal. Grabato allegedly used tricks to avoid paying what he owed for a decade and a half.
What Charges Is He Facing?
A federal court in Newark, New Jersey issued an arrest warrant on October 12, 2022. The charges include:
- Securities Fraud – Lying to investors about investments
- Wire Fraud – Using phones, email, or internet to run the scam
- Conspiracy to Defraud the United States (Tax) – Plotting to cheat the IRS
Where Is He Now?
The FBI believes Grabato has ties to the Philippines and may be living there right now.
He’s only the second person ever added to the FBI’s new Most Wanted Fraudsters list.
There’s a Reward!
The FBI is offering $150,000 for information that leads to his arrest AND conviction.
How Can You Help?
If you know anything about where Grabato might be, you can submit tips three ways:
1. Online
2. By Phone
1-800-CALL-FBI
(That’s 1-800-225-5324)
3. Call FBI Newark Directly
973-792-3000
Summary: What You Need to Know
| Key Fact | Details |
|---|---|
| Who | Rey Grabato II |
| What | Alleged $650M+ investment scam + $26M tax fraud |
| Company | National Realty Investment Advisors |
| Victims | ~2,000 investors (hundreds in NJ) |
| Timeframe | Feb 2018 – Jan 2022 |
| Status | On FBI Most Wanted Fraudsters List |
| Possible Location | Philippines |
| Reward | $150,000 for arrest & conviction |
| Charges | Securities fraud, wire fraud, tax conspiracy |
FAQ: Your Questions Answered
What does "Most Wanted Fraudsters list" mean?
It’s a special FBI list for people accused of really big financial crimes who are on the run. Being on it means the FBI is prioritizing finding them.
Has he been convicted?
No. He’s been charged and indicted, which means a grand jury thinks there’s enough evidence for a trial. He’s presumed innocent until a court says otherwise.
What is "securities fraud" in simple terms?
It’s when someone lies about investments to trick people into giving them money. "Securities" are things like stocks, bonds, or fund shares.
How did he allegedly steal so much money?
By lying about his company’s value, he convinced other companies to let him buy ownership stakes—using investors’ money that wasn’t really there.
What should I do if I invested with him?
Contact the FBI Newark office at 973-792-3000 or submit a tip online. You may be a victim entitled to information about the case.
Final Thought
Scams like this hurt real people—retirees, families, small business owners who trusted someone with their life savings. The FBI wants your help catching alleged fraudsters so they can face justice.
If you see something, say something. Your tip could make the difference.