By Tara Yap
ILOILO CITY — The son of Mina town Mayor Rey Grabato has been identified by the Federal Bureau of Investigation (FBI) in the United States as a “Most Wanted Fraudster” in connection with a $650‑million investment scam.
Rey E. Grabato II, who has reportedly been living in Iloilo since 2022, faces a $150,000 reward for his arrest.
His family confirmed his presence in the province, saying he is recovering from a severe stroke that left him partially paralyzed.
His mother, former mayor Linda Grabato, earlier disclosed in October 2022 that her son had returned to Iloilo months before to recuperate from an accident in the US.
At that time, Rey II had already been indicted by the U.S. Securities and Exchange Commission (SEC) for defrauding thousands of investors through the National Realty Investment Advisors LLC (NRIA), where he served as president.
Photos taken in 2023 showed him attending social and business events in Iloilo, despite being a fugitive. The Manila Bulletin is still verifying his current presence in the province.
The family emphasized they have not received any official notice from authorities in the Philippines or the US.
“We consider it inappropriate at this time to speculate on, debate, or publicly litigate the substance of the allegations appearing in media and social media reports,” his brother Christopher said in a statement.
Aside from the investment scam, Rey II has also been accused of conspiring to evade $26 million in tax liabilities with the U.S. Internal Revenue Service (IRS).
