Bogus real estate investments promoted by a Bronx man accused of bilking investors out of millions of dollars qualify as “securities,” paving the way for prosecution under the state’s Martin Act, a judge has ruled.

While the allegedly fraudulent investments may not have been touted as classic securities by Robert Van Zandt Sr., courts have construed the term liberally when interpreting the anti-fraud act, Bronx Supreme Court Justice Martin Marcus (See Profie) noted.