CLEVELAND and PHILADELPHIA, June 24, 2022 (GLOBE NEWSWIRE) -- The investment fraud lawyers at Rosca Scarlato LLC law firm are investigating potential claims for compensation on behalf of certain investors in the alleged fraudulent scheme perpetrated by the real estate development company National Realty Investment Advisors (“NRIA”), affiliated funds, and some of its principals, following recent fraud allegations by state and federal securities regulators.
The New Jersey Bureau of Securities recently issued a Cease & Desist Order accusing the NRIA and its principals of perpetrating a massive securities fraud by selling over $600 million in real estate investments to 1,800 investors through misrepresentations and omissions, and misusing much of the investors’ money. The alleged fraud was perpetrated through a series of funds, according to records under review by investor rights attorney Alan Rosca.
The NRIA and its affiliated funds recently filed for Chapter 11 bankruptcy. The New Jersey regulators described numerous alleged irregularities in NRIA’s use of investor money, in a recent Cease and Desist Order. In addition, NRIA is reportedly under investigation by the Securities and Exchange Commission and other state regulators, and one of the NRIA control persons, Thomas “Nick” Salzano was charged last year with fraud in connection with an investment in NRIA.
What NRIA Investors May Do
Investment fraud attorneys Alan Rosca and Paul Scarlato have been investigating the NRIA matter on behalf of victimized investors and are evaluating certain potential recovery options for some of the investors in the alleged fraud. NRIA investors who invested through a registered investment professional or through an investment vehicle (“feeder fund”), as well as individuals with knowledge may contact attorneys Rosca or Scarlato for a free, no-obligation evaluation of their options at 888-998-0530, arosca@rscounsel.law or by leaving a message at the NRIA Investor Center page.
The Rosca Scarlato investor lawyers have substantial experience representing investors who lost money as a result of investment fraud and Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs. There are no fees or costs if no recovery.
Visit https://investorlawyers.org for more information about the firm and Rosca Scarlato attorneys' background and admissions to practice law. This release may be deemed to include Attorney Advertising. There has been no finding of liability as to the allegations herein. © Rosca Scarlato 2022.
