Will DJ Envy Be ARRESTED?
Thus far, the investigation has revealed he allegedly defrauded dozens of investors of millions of dollars. He also allegedly conspired to launder illicit funds, including from the sale of controlled substances, for various individuals he knew were engaged in criminal activities.A New Jersey real estate investor and influencer has been charged with committing a multi-million-dollar Ponzi-like fraud scheme, conspiring to launder drug proceeds and bribing a New Jersey politician, among other charges, federal prosecutors announced Thursday.
Cesar Humberto Pina, “Flipping NJ,” 47, of Franklin Lakes, was charged by criminal indictment with two counts of wire fraud, one count of money laundering conspiracy, two counts of money laundering, and one count of bribery concerning programs receiving federal funds.
Pina’s initial appearance and arraignment on the indictment have not yet been scheduled. The attorney on record listed for him couldn’t immediately be reached for comment.
He is the former business attorney of radio talk show host DJ Envy, whose real name is Rashaun Casey. An attorney for Casey previously blasted allegations of fraud, accusing them of smearing the celebrity’s good name and reputation in the hope of shaming him into some form of financial resolution.
According to documents filed in this case and statements made in court: Pina partnered with Envy to conduct real estate seminars around the country. Through these seminars, self-promotional efforts, and other marketing strategies, Pina developed a significant social media following. Starting in at least 2017, Pina began accepting investments from individual investors for the alleged purchase, remodel, and sale of specific real estate properties in New Jersey and other states.
To entice investors, Pina allegedly often promised 30% or higher returns on investments within 4 to 5 months. But instead of using investors’ funds as promised, Pina allegedly commingled and misappropriated investors’ money, including by using new investor funds to pay off prior investors in a Ponzi-like scheme and spending investor funds on unauthorized business and personal expenditures.
Thus far, the investigation has revealed Pina allegedly defrauded dozens of investors of millions of dollars. Pina also allegedly conspired to launder illicit funds, including from the sale of controlled substances, for various individuals he knew were engaged in criminal activities. #djenvy #cesarpina #realestatescam
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