Eccleston Law LLC Investigates Recovery Options for NRIA Investors

Posted on June 23rd, 2022 at 8:33 AM
Eccleston Law LLC Investigates Recovery Options for NRIA Investors

From the Desk of Jim Eccleston at Eccleston Law:

Headquartered in Secaucus, NJ, National Realty Investment Advisors (NRIA) recently declared bankruptcy amid investor redemption requests, federal and state investigations, and unsustainable debt. 

 

As recently reported, NRIA has been the subject of a cease and desist order (Order) by the New Jersey Bureau of Securities (the Bureau), following a factual finding by the state securities regulator that NRIA and certain of its principals and executives allegedly engaged in a $630 million fraud scheme between 2018 and 2022. In addition, at the federal level, the U.S. Securities and Exchange Commission (SEC) is investigating NRIA and its business practices. 

 

The fraud alleged by the Bureau involved the selling of certain securities, specifically in the form of membership units in certain real estate fund offerings, to at least 1,800 investors nationwide, including 380 investors in New Jersey. As alleged by the Bureau in its Order, NRIA’s principals touted the NRIA Fund as a billion-dollar-plus real estate development enterprise focused on developing high-end real estate in gentrifying city neighborhoods in Philadelphia, PA, Brooklyn, NY, North Jersey’s Gold Coast, and Palm Beach County, FL. 

 

NRIA’s principals include Mr. Rey Grabato (Hoboken, NJ), President of NRIA; D, Coley O’Brien (Southampton, NY), co-CIO of the NRIA Fund; Thomas Nicholas Salzano (Secaucus, NJ), senior executive advisor and portfolio manager of the NRIA Fund; and Arthur Scutaro (Bloomfield, NJ), executive vice-president of project management and advisor to the NRIA Fund. 

 

If you are or know an NRIA investor, please contact us. Our investigation, review of your information and documents, and consultation all are no-charge and no-obligation. Contact us today.

 
 

Tags: eccleston law, nria, investors

Return to Archive

TESTIMONIALS

Previous
Next

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

January 26, 2026
James Eccleston Named 2026 Super Lawyer in Securities Litigation

Eccleston Law announces James Eccleston's selection to the 2026 Illinois Super Lawyers list, continuing a track record of excellence since 2005.

January 26, 2026
FINRA Enforcement Actions for Reg BI Violations Surge Past 2024 Levels

The Financial Industry Regulatory Authority (FINRA) already has brought more Regulation Best Interest cases in 2025 than it did during all of 2024, according to statements from the regulator’s top enforcement official and a review of FINRA’s disciplinary records by AdvisorHub.

January 23, 2026
JPMorgan Explores Crypto Trading for Institutional Clients as Wall Street Deepens Digital Asset Push

JPMorgan is weighing another significant expansion into cryptocurrency, as the firm considers allowing institutional clients to trade digital assets, according to Bloomberg Law.