Rey E. Grabato II, who lived in Hoboken before becoming a fugitive, has made history in a way nobody wants to. That is unless you have a knack for crime.
He’s the first New Jersey resident ever added to the FBI’s Most Wanted Fraudsters list, a designation tied to a $650 million Ponzi scheme that defrauded roughly 2,000 investors, including hundreds across New Jersey.
Grabato served as president and majority owner of National Realty Investment Advisors, LLC, a company the FBI says misrepresented the value of its investment fund, one reportedly used to acquire equity interests in companies investing in real estate assets. The alleged scheme ran from February 2018 to January 2022.
The FBI is offering a reward of up to $150,000 for information leading to his arrest and conviction. A warrant for Grabato was issued in October 2022, and he’s been on the run since.
Why Grabato
FBI Newark Supervisory Special Agent Tony Logan told the New York Post that Grabato’s role, combined with the scale of the fraud and number of victims, is what landed him on the list. “This wasn’t just what we would call just someone on the bottom who was helping out and getting a little kickback,” Logan said. “This was somebody who was definitely one of the main people involved with this scheme, being the CEO.”
Investors haven’t seen any restitution, and Logan said the money is likely gone. “There is, from our standpoint, no money left,” he said.
Where He Might Be
Grabato holds a Filipino passport, and flight records suggest he may have fled to the Philippines. According to Philippine news outlet Filipino Times, he’s reportedly the son of the mayor of Iloilo.
Two other men tied to the scheme, Thomas Nicholas Sazano and Arthur S. Scuttaro, were indicted in October 2022. Scuttaro, the company’s former head of sales, has since pleaded guilty to conspiracy to commit securities fraud.
Anyone with information on Grabato’s whereabouts can submit a tip at tips.fbi.gov, call 1-800-CALL-FBI, or contact FBI Newark directly at 973-792-3000.
Lifelong Jersey resident and Rutgers and FDU alumnus, Tom La Vecchia is publisher of New Jersey Digest, one of the state’s leading lifestyle media brands. When he’s not growing the Digest, he’s raising four kids, wrangling four cats and pretending it’s all under control. His mission: keep Jersey interesting and impossible to ignore.
