“Cesar Pina and his enterprise accomplice, a well known disc jockey and radio character, operated an organization that performed actual property seminars across the nation,” courtroom paperwork present.
Federal agents in New Jersey arrested a enterprise accomplice of DJ Envy for alleged actual property fraud.
Cesar Pina, featured on Envy’s “The Breakfast Membership,” was arrested for wire fraud lately. He allegedly defrauded dozens of victims by a Ponzi-like scheme. Envy, whose actual identify is Rashaun Casey, was not charged, however many alleged victims declare his celeb influenced them.
A supply accustomed to the investigation told NBC 4 that federal brokers visited iHeartRadio workplaces and seized digital gear as a part of the continued investigation. DJ Envy’s lawyer, Massimo D’Angelo, denied such claims.
Envy partnered with Pina to show on generational wealth and residential shopping for to uplift the group on “The Breakfast Membership.”
“I did these seminars and introduced trade professionals to all these seminars,” Envy shared on his morning show. “Now, Cesar, if he took cash, I wasn’t aware of it, nor did I even know. However I do perceive how folks really feel in the event that they did give him cash.”
Envy claimed that he empathized with Pina’s victims as a result of he allegedly gave him cash however didn’t obtain a return. He denied stealing from anybody.
After that present ended, Pina was arrested by federal brokers on one rely of wire fraud fees, which the co-host plead not responsible to. He was launched on a $1 million bond however is now below digital monitoring. As a constructive measure, he has been prohibited from leaving the state of New Jersey, as he might face extra fees for cash laundering.
Within the criticism, native U.S. Legal professional Philip R. Sellinger acknowledged that Pina used his celeb standing and social media presence to achieve a loyal following of potential victims, whom he then exploited.
“Pina and his enterprise accomplice, a well known disc jockey and radio character (“Particular person-1″), operated an organization that performed actual property seminars across the nation. Collectively, they used Particular person-l’s celeb to advertise varied actual property enterprises that Pina managed.”
According to Yahoo News, Envy’s spouse, Gia Casey, reportedly eliminated a few of her social media posts that includes the quite a few luxurious designer objects that Envy buys her in a 12 months. Envy is thought for gifting his spouse with presents for every of the 12 days main as much as Christmas, incomes him a popularity for lavish gift-giving.
Extra excessive profile arrests: Las Vegas prosecutor faces fees after police say he tried to lure an underage lady for intercourse
What was the scheme?
Beginning in 2017, Pina started taking investments to renovate and resell properties, promising a 20-45% return on funding (ROI) inside 5 months throughout New Jersey and different locations.
In line with experiences, Pina is accused of diverting some investments for his private acquire and utilizing recent investments to repay the sooner traders. Shortly earlier than Pina’s arrest, NBC 4 New York coated a narrative of a number of traders who had not obtained the mission’s promised funds.
Pina allegedly scammed traders by soliciting investments in properties he did not personal and providing the identical properties to a number of traders. He’s additionally accused of making an attempt to pay an investor again in jewellery. Pina and his spouse, full identify Jennifer, are actually dealing with over 20 lawsuits.
What is going to occur subsequent?
As beforehand acknowledged, following his arrest, Pina was launched on a $1 million bond and is at the moment restricted to New Jersey. If discovered responsible of wire-fraud, he might face a most of 20 years in jail and important fines.