FBI lists Ilonggo political scion among wanted fraudsters
By Jennifer P. Rendon
By Jennifer P. Rendon
ILOILO CITY — Rey E. Grabato II, a businessman from a political family in Iloilo province, has been placed on the FBI’s Most Wanted Fraudsters list over his alleged role in a USD 650 million investment fraud scheme.
The FBI is offering a reward of up to USD 150,000 for information leading to Grabato’s arrest and conviction. The agency said he has ties to the Philippines and may be living in the country.
The FBI launched the Most Wanted Fraudsters list in June 2026 to seek the public’s help in locating people charged with major financial crimes.
Grabato and co-defendant Thomas Nicholas Salzano allegedly defrauded about 2,000 investors, including hundreds in New Jersey, from February 2018 to January 2022, according to the FBI.
Grabato faces federal charges of conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, wire fraud and conspiracy to defraud the United States with respect to taxes.
The U.S. District Court for the District of New Jersey in Newark issued a federal arrest warrant for Grabato on Oct. 12, 2022.
An 18-count indictment unsealed that day identified Grabato as president and majority owner of National Realty Investment Advisors LLC, a real estate investment firm based in Secaucus, New Jersey.
Grabato and Salzano allegedly misrepresented the value of the company’s investment fund, which was used to acquire ownership stakes in companies investing in real estate.
The U.S. Department of Justice alleged that the defendants promoted the fund through false statements and omissions while operating it as a Ponzi scheme that generated little or no profit.
Grabato and Salzano were also accused of conspiring to obstruct the Internal Revenue Service’s collection of about USD 26 million in outstanding taxes owed by Salzano from November 2007 to August 2022.
The U.S. Securities and Exchange Commission filed a separate civil complaint in 2022 against National Realty Investment Advisors and several of its executives over the alleged scheme.
Grabato is the son and namesake of incumbent Mina Mayor Rey P. Grabato and former Mayor Lydia Grabato. The Iloilo provincial government’s municipal directory identifies Rey P. Grabato as the town’s mayor.
His family said Grabato returned to Mina in May 2022 to recover after undergoing brain surgery in the United States following an accident.
The FBI asks anyone with information about Grabato to contact the nearest FBI office, U.S. embassy or consulate, or submit a tip through its website.
The charges are allegations, and Grabato is presumed innocent unless proven guilty in court.
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