Popular radio personality DJ Envy of New York-based Power 105.1 FM has come under fire for his connection to accused real estate investment fraudster Cesar Pina.
DJ Envy has not been arrested or charged with any crimes, but he is being sued by at least nine parties who said that without Envy’s vouching, they never would have been scammed by Pina.
Victims of the alleged scheme said they were duped into believing real estate investments through Pina were legitimate based on The Breakfast Club co-host’s endorsement.
DJ Envy, born RaaShaun Casey, had for years partnered with Pina – who goes by Flipping_NJ on social media – to host real estate investment seminars across the country and often promoted Pina as a real estate genius on the syndicated morning radio program.
Earlier this month, the U.S. Attorney’s office of New Jersey announced the arrest of Pina and alleged he committed a multimillion-dollar real estate investment Ponzi scheme dating back to 2017.
“The defendant ran a fraudulent scheme”
“Pina exploited celebrity status and social media to develop a devoted following of potential victims,” U.S. Attorney Philip R. Sellinger said in the complaint.
Pina, the office said, would guarantee lenders huge payoffs for their investments in purchasing and remodeling projects. Then, once he had the money in hand, he would spend that money instead on paying off old debts and personal expenditures.
“Plain and simple, the defendant ran a fraudulent scheme,” Tammy Tomlins, Special Agent in Charge of IRS – Criminal Investigation Newark Field Office, said in a statement. “They falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions.”
Envy was also indirectly named in the complaint, with the district attorney’s office writing:
“Pina partnered with a celebrity disc jockey and radio personality 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.”
Pina is reportedly now out on a $1 million bond and is not allowed to leave the state of New Jersey. If convicted of wire fraud, he faces 20 years in prison and a fine of $250,000.
“These are working class folks. These are not wealthy individuals,” said Alexander Schachtel, the attorney representing nine claimants against DJ Envy, Pina and others they accuse of being in on the scheme.
“Some of these people lost their life savings.”
Schachtel said that by attaching his name to Pina’s and introducing the accused scam artist to The Breakfast Club’s wide audience, Envy has a responsibility to see the victims recompensed.
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