An executive who federal prosecutors said was the shadow CEO of a New Jersey real estate firm, which lured investors with a nationwide marketing campaign that included billboards and TV ads, pleaded guilty to charges related to orchestrating a Ponzi scheme. Thomas Nicholas Salzano was accused of defrauding more than 2,000 victims of $658 million and evading millions of dollars in tax liabilities.
Real Estate Executive Admits Role in What Prosecutors Call a $658 Million Ponzi Scheme
National Realty Investment Advisors of New Jersey Defrauded Investors, US Attorney Says
By Linda Moss
CoStar News
February 29, 2024 | 7:38 P.M.
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