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Salon
Salon
Politics
Matthew Chapman

MYSTERIOUS: O reilly linked to ponzi scandal | Mind Blowing Facts

Bill OReilly Fox News
Bill O'Reilly (Ilya S. Savenok/Getty Images)

On Thursday, The Daily Beast reported that National Realty Investment Advisors, an upscale real estate investment firm with celebrity backing from disgraced former Fox News anchor Bill O'Reilly, has been busted by federal investigators as a Ponzi scheme.

"After investing a few thousand dollars, the New Jersey-based group focused on high-end real estate in gentrifying neighborhoods claimed, clients might see returns of at least 12 percent. The message was repeated in thousands of emails, on huge billboards at the Lincoln and Holland tunnel, and even radio ads featuring the former Fox News host and ex-NFL star," reported Pilar Melendez. "But on Thursday, prosecutors alleged that the investment company's president and an associate were in fact participating in a brazen $650 million Ponzi scheme that defrauded thousands of investors."

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