New Jersey man added to FBI's most wanted fraudsters list

The FBI added Rey E. Grabato II to its Most Wanted Fraudsters list in August 2026. He is the first person from New Jersey to appear on this list. Grabato, a Filipino man, is accused of running a Ponzi scheme from 2018 to 2022. In a Ponzi scheme, money from new investors is used to pay earlier ones. The scheme is believed to have stolen more than $650 million from around 2,000 investors. Many victims lived in New Jersey. Grabato is described as 5 feet 5 inches tall, with black hair, and weighing 160 pounds. He has not been caught and is still a fugitive. Three other people on the same FBI list have already been arrested.