U.S. authorities have offered a reward of up to $150,000 for information leading to the arrest and conviction of Rey E. Grabato II, who is wanted by the Federal Bureau of Investigation (FBI) over an alleged $650 million investment fraud scheme.

Grabato, who has ties to the Philippines and may be living in the country, is the son and namesake of incumbent Mina Mayor Rey Grabato and former mayor Lydia Grabato.

The FBI said Grabato is wanted for his alleged role in a scheme that defrauded about 2,000 investors, including hundreds in New Jersey, between February 2018 and January 2022.

Authorities allege that Grabato, as president and majority owner of National Realty Investment Advisors LLC, and others misrepresented the value of an investment fund reportedly used to acquire interests in companies involved in real estate.

He also allegedly participated in a separate scheme to obstruct the U.S. Internal Revenue Service from collecting about $26 million in outstanding tax liabilities, according to the FBI.

Grabato faces charges including conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, wire fraud and conspiracy to defraud the United States with respect to tax.

A federal arrest warrant was issued for him on October 12, 2022, in the U.S. District Court for the District of New Jersey.

The FBI urged anyone with information on Grabato’s whereabouts to contact a local FBI office or the nearest U.S. Embassy or Consulate.

The charges are allegations, and Grabato is presumed innocent unless proven guilty in court.