Two from Secaucus-based real estate investment firm charged, one pleads guilty in $650M scheme: feds

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National Realty Investment Advisors held a Groundbreaking Ceremony for The Grand apartment development project in West New York on Monday, August 2, 2021. NRIA President Rey Grabato.

The president and a top officer of a Secaucus-bases real estate investment company have been charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme and conspiring to evade $26 million in tax liabilities, U.S. Attorney Philip R. Sellinger said Thursday.

Also Thursday, a third National Realty Investment Advisors LLC employee pleaded guilty to conspiracy to commit securities fraud in the same scheme. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.

 

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