Iloilo mayor’s son lands on FBI Most Wanted list over alleged investment scam
Rey Grabato II, the son of Mina, Iloilo Mayor Rey Grabato, has been placed on the US Federal Bureau of Investigation’s Most Wanted list for alleged fraud.
According to the notice, Grabato II is wanted for allegedly conspiring to commit securities fraud, securities fraud, conspiracy to commit wire fraud, wire fraud, and conspiracy to defraud the US with respect to taxes.
The FBI claimed that approximately 2,000 investors became victims of his scheme between February 2018 and January 2022, defrauding them of over $650 million (39.9 billion).
"Acting as the president and majority owner of National Realty Investment Advisors, LLC, a realty investment company, Grabato, II and others allegedly misrepresented the value of NRIA's investment fund reportedly used to acquire equity interests in companies that invested in real estate assets," the agency said.
Moreover, Grabato II also allegedly participated in a separate scheme to "obstruct, impede, and impair" the United States Internal Revenue Service collecting approximately $26 million (P1.5 billion) in outstanding tax liabilities owed to the United States Government. This took place between November of 2007 and August of 2022.
The federal arrest warrant was issued against him back in October 2022 at a court in New Jersey after he was charged with the crimes.
The FBI is now requesting the public to come forward if they have any information concerning this person and advised them to contact the nearest FBI office or the American Embassy or Consulate.
The FBI is offering a reward of up to $150,000 (P9.2 million) for information leading to his arrest and conviction.
In a statement, Grabato II's brother, Christopher, took to his Facebook account to address the matter.
"We wish to clarify that, as of August 14, 2026, neither Mr. Grabato nor his authorized representatives have received or been served with any official notice, summons, or other legal process from Philippine authorities in relation to the matters being reported. We likewise confirm that no summons or official notice has been received from the United States government regarding the same," he began.
He also explained that Grabato II is "presently recovering from a severe stroke," which has left him "partially paralyzed and continues to experience significant limitations in his mobility, communication, and cognitive functioning."
"He remains under continuing medical care, and his family’s immediate priority is his treatment, rehabilitation, and well-being. Given his present condition, we respectfully ask the public and the media to exercise sensitivity and restraint in discussing his personal and medical circumstances," Christopher said.
Since no official notice has been served, Grabato II's family considers it "inappropriate at this time to speculate on, debate, or publicly litigate the substance of the allegations appearing in media and social media reports."
However, they assured that the matter will be addressed through the proper legal channels once the legal process has been served.
"We further emphasize that allegations, an indictment, or the filing of criminal charges do not constitute a finding of guilt. Mr. Grabato remains entitled to due process and the presumption of innocence unless and until guilt is established in accordance with law before a court of competent jurisdiction," Christopher said.
He ended his statement by requesting the public and the media to avoid speculation, misinformation, and premature conclusions based solely on reports circulating online.
