First NJ resident lands on FBI’s Most Wanted Fraudsters list for swindling investors out of a whopping $650M

Source: New York Post

A New Jersey thief who bilked investors out of more than $650 million has been named one of the FBI’s Most Wanted Fraudsters — the first Garden State resident to appear on the infamous list. Fugitive Rey E. Grabato II is accused of participating in a Ponzi scheme that defrauded some 2,000 investors, hundreds of whom were located in New Jersey, out of more than $650 million between February 2018 and January 2022, according to the FBI.