Investors Put $650 Million Into a Real Estate Fund. The FBI Is Offering $150,000 to Find Its Fugitive Former President

August 16, 2026 - 21:12

A former real estate investment executive, wanted in connection with a scheme that collected more than $650 million from roughly 2,000 investors, has been added to the FBI's list of most wanted fugitives. The bureau is now offering a reward of up to $150,000 for information leading to his arrest.

The man, who previously served as president of the fund, faces federal charges related to fraud and money laundering. Authorities allege that he and others misled investors about the performance and security of their money, using new funds to pay off earlier backers in a manner consistent with a Ponzi scheme. The operation collapsed in 2023, leaving thousands of people, many of them retirees, with significant losses.

According to the FBI, the former president fled the country shortly before the charges were unsealed. He is believed to have traveled through several states before leaving the United States. Investigators have tracked financial transactions and communications that suggest he may have had help in evading capture.

The agency is asking anyone with information about his whereabouts to come forward. Officials stressed that the reward money is separate from any recovery of investor funds, which remains a priority in the ongoing civil proceedings. The case has drawn attention to the lack of oversight in certain private real estate offerings, where investors often rely on the word of fund managers without independent verification.