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Manila Bulletin devider Philippines devider Iloilo mayor cancels press conference regarding son's indictment in US court for $650 million scam

Iloilo mayor cancels press conference regarding son's indictment in US court for $650 million scam

Published Oct 25, 2022 05:27 pm

ILOILO CITY -- Mayor Linda Grabato of Mina town, Iloilo province cancelled the scheduled press conference on Tuesday, Oct. 25, regarding the indictment of his son in the United States (U.S.) involving an alleged $650-million investment scam.

In a message sent to the Iloilo Provincial Capitol Press Corps, the press conference was cancelled as Grabato was ‘not feeling well and is under medication.’ News broke over the weekend in the Philippines that Rey E. Grabato II, the son and namesake of former mayor Rey Grabato, was one of the four charged by the U.S. Securities and Exchange Commission (SEC) for defrauding thousands of investors through its firm National Realty Investment Advisors LLC (NRIA).

The Grabatos have largely kept mum and did not respond to queries made by most reporters.

The Manila Bulletin tried to reach former mayor Rey through text messages but the latter did not answer.

Their 43-year-old son who is living in New Jersey was also one of the two charged by the U.S. Attorney’s Office-District of New Jersey for wire fraud and conspiracy to defraud the United States last October 13.

Along with NRIA President Nicholas Salzano, Grabato II is also accused of allegedly ‘conspiring to evade $26 million in tax liabilities’ with the U.S. Internal Revenue Service (IRS).

Grabato II is reportedly at large.

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