Business ProfileforNational Realty Investment Advisors, LLC
Current Alerts For This Business
on 08/10/2023 the Chapter 11 Plan of Liquidation was confirmed by the NJ Bankruptcy Court.
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
NEWARK, N.J. – Feb. 27, 2024 - The shadow chief executive officer of National Realty Investment Advisors LLC (NRIA) today admitted orchestrating a scheme to defraud more than 2,000 investors in a $658 million Ponzi scheme and conspiring to evade millions of dollars in tax liabilities, U.S. Attorney Philip R. Sellinger announced.
Thomas Nicholas Salzano, aka “Nicholas Salzano”, of Secaucus, NJ, pleaded guilty before U.S. District Judge Evelyn Padin in Newark federal court to securities fraud, conspiracy to commit wire fraud, and conspiracy to defraud the United States. Salzano admitted he made numerous misrepresentations to investors while he secretly ran NRIA behind the scenes. He also admitted to misappropriating millions of dollars from investors to enrich himself and his family and friends.
As part of his plea agreement, Salzano has agreed to a prison term of eight to 12 years, a forfeiture money judgment in the amount of $8.52 million, and a full restitution of $507.4 million to the victims of his offenses. Sentencing is scheduled for Aug. 6, 2024.
At-a-glance
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Business Details
- Location of This Business
- 1 Harmon Plz Fl 9, Secaucus, NJ 07094-2804
- BBB File Opened:
- 5/10/2013
- Business Started:
- 11/27/2006
- Business Started Locally:
- 12/20/2007
- Business Incorporated:
- 11/27/2006
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Business Name
- NRIA
- Business Management
- Mr. Nicholas Salzano, Former Advisor/Manager/Contractor
- Mr. Glenn LaMattina, COO
- Mr. Brian Casey, Manager
- Additional Contact Information
Email Addresses
- Primary
- Complaint
Customer Complaints
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07/25/2022
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