Thomas Nicholas Salzano

Thomas Nicholas Salzano, aka “Nicholas Salzano,” 66, of Secaucus, New Jersey, previously pleaded guilty before U.S. District Judge Evelyn Padin to securities fraud, conspiracy to commit wire fraud, and conspiracy to defraud the United States. Salzano admitted he made numerous misrepresentations to investors while he secretly ran NRIA behind the scenes. He admitted to misappropriating millions of dollars from investors to enrich himself and his family and friends. Salzano also admitted to misappropriating millions of dollars from investors to enrich himself and his family and friends and failing to report and pay taxes on those misappropriated funds. He was sentenced in November 2024 to 144 months in prison for orchestrating a scheme to defraud more than 2,000 investors in a $658 million Ponzi scheme and conspiring to evade millions of dollars in tax liabilities