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Cesar Pina, the movie star house-flipper often known as DJ Envy‘s associate in actual property investing pursuits, was arrested on Oct. 18 on federal costs. He’s accused of perpetrating “a multimillion-dollar Ponzi-like funding fraud scheme,” based on america Legal professional’s Workplace.
The allegations and costs have led to federal officers raiding the iHeartRadio workplace in New York and eradicating digital tools as a part of the continuing investigation, NBC4 reported. Envy, whose actual title is Raashaun Casey, was not charged.
Listed below are 5 details about Pina.
He’s nonetheless posting on social media
In accordance with the U.S. Legal professional’s Workplace, Pina was launched on a $1 million secured bond with digital monitoring. After being launched, he returned to Instagram to ship a message to his 303,000 followers.
“Each damaging is a constructive,” a graphic Pina posted of fifty Cent learn. “The unhealthy issues that occur to me, I one way or the other make them good. Meaning you possibly can’t do something to harm me.”
The graphic got here with a caption from Pina’s account.
“I’m nonetheless right here!!!” the caption learn. “All the time transferring ahead, by no means [backward]!!!”
Practically 20 years of expertise in actual property
In accordance with his official web site, Pina began his actual property profession in 2006.
The Envy period
Pina has labored with DJ Envy since 2018. The duo then started touring, creating seminars for individuals who wished to study the true property enterprise.
The 2 have since unfollowed one another on Instagram, Tony “The Nearer” Robinson posted on X, previously often called Twitter, on October 19.
Different movie star shoppers
Different movie star shoppers of Pina’s embody Brandon Copeland, Don Omar, Kenny Britt, and Khalil Mack.
Fraud scheme allegation particulars
Pina is accused of accepting investments of tens of millions of {dollars} from dozens of aspiring traders to purchase, rework, and promote actual property tasks in New Jersey and different states. Pina allegedly promised 20 to 45% returns inside 5 months however typically used new victims’ cash to repay different victims and spent sufferer funds on private use.
The cost of wire fraud has a most penalty of 20 years in jail and a effective of $250,000 or twice the “gross quantity of any pecuniary acquire that any individuals derived from the offense, or of any pecuniary loss sustained by any victims of the offense, whichever is best,” the lawyer’s workplace press launch learn.
Cesar Humberto Pina aka Flipping NJ & Raashaun Casey aka DJ Envy have unfollowed one another on Instagram 😱🧾 #RealEstateRico pic.twitter.com/5a4WrkNvAl
— Tony “The Nearer” Robinson (@tonythecloser_) October 19, 2023
Different movie star shoppers
Different movie star shoppers of Pina’s embody Brandon Copeland, Don Omar, Kenny Britt, and Khalil Mack.
Fraud scheme allegation particulars
Pina is accused of accepting investments of tens of millions of {dollars} from dozens of aspiring traders to purchase, rework, and promote actual property tasks in New Jersey and different states. Pina allegedly promised 20 to 45% returns inside 5 months however typically used new victims’ cash to repay different victims and spent sufferer funds on private use.
The cost of wire fraud has a most penalty of 20 years in jail and a effective of $250,000 or twice the “gross quantity of any pecuniary acquire that any individuals derived from the offense, or of any pecuniary loss sustained by any victims of the offense, whichever is best,” the lawyer’s workplace press launch learn.
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