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Hoboken development site sells for $7.5M
CBRE was previously tasked by a court-appointed restructuring management team to sell off properties from shuttered and disgraced NRIA's portfolio. This marks the third.
CEO of shuttered NRIA admits role in $658M Ponzi scheme
“For years, Salzano told lie after lie to investors, continuously deceived them, and operated his business as Ponzi scheme, through which he stole money from thousands of investors,” said U.S. Attorney for New Jersey Philip Sellinger.
SEC charges Secaucus-based developer, execs with $600M ‘Ponzi-like fraud’ (updated)
The move follows a Summary Cease and Desist Order from the New Jersey Bureau of Securities that was issued over the summer. Earlier that month, National Realty Investment Advisors LLC filed for Chapter 11 bankruptcy protection.
State takes action against NRIA over alleged fraud
At least 1,800 investors across the country, including 380 in New Jersey, were fraudulently sold at least $630 million in securities by the Secaucus-based real estate investment company, according to the New Jersey Bureau of Securities.
