The U.S. Securities and Exchange Commission filed a lawsuit Thursday in New Jersey District Court targeting National Realty Investment Advisors and other defendants for allegedly defrauding investors of over $600 million in a Ponzi scheme. The complaint contends that the defendants used radio and television ads to misrepresent and promote investment in National Realty, which filed for Chapter 11 bankruptcy protection last June. Attorneys have not yet appeared for the defendants. The case is 2:22-cv-06066, Securities And Exchange Commission v. National Realty Investment Advisors LLC et al.
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