Federal Agent in New Jersey A business partner of DJ Envy was arrested for alleged real estate fraud.
Cesar Pina, featured on NV’s “The Breakfast Club,” was recently arrested for wire fraud. He allegedly defrauded dozens of victims through a Ponzi-like scheme. Jealous, whose real name is Rashaun Casey, was not charged, but several alleged victims claim his celebrity influenced them.
A source familiar with the investigation told nbc 4 Federal agents visited the iHeartRadio offices and seized electronic equipment as part of the ongoing investigation. DJ Envy’s lawyer Massimo D’Angelo denied such claims.
Envy partners with Pina to teach about generational wealth and home buying to uplift the community on “The Breakfast Club.”
“I did these seminars and brought industry professionals to all these seminars,” Jealousy shared on her morning show, “Now, Caesar, if he took money, I was not aware of it, nor did I know it. But I understand how people feel if they give him money.”
Jealousy claimed that she sympathized with Pina’s victims as she allegedly gave him money but did not receive returns. He denied stealing from anyone.
After that show ended, Pina was arrested by federal agents on wire fraud charges, to which the co-host pleaded not guilty. He was released on $1 million bond but is now on electronic monitoring. As a constructive measure, he is banned from leaving the state of New Jersey, as he could face additional charges for money laundering.
In the complaint, local US Attorney Philip R. Selinger said Pina used his celebrity status and social media presence to gain a devoted following of potential victims, whom he exploited.
“Pina and his business partner, a renowned disc jockey and radio personality (“Individual-1”), ran a company that conducted real estate seminars across the country. Together, they promoted various real estate ventures. “Used the celebrity of Individual-L. Which Pina controlled.”
According to Yahoo News, Envy’s wife, Jiya Casey, has reportedly deleted some of her social media posts which included several luxury designer items that Envy buys for her over a year. Envy is known to give gifts to his wife each of the 12 days leading up to Christmas, earning him a reputation for giving lavish gifts.
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What was the plan?
Starting in 2017, Pina began taking investments to renovate and resell properties in New Jersey and other locations, promising a 20–45% return (ROI) on investment within five months.
According to reports, Pina is accused of diverting some investments for his personal gain and using the new investments to repay earlier investors. Shortly before Pina’s arrest, NBC 4 New York covered the story of several investors who did not receive promised payments from the project.
Pina allegedly defrauded investors by soliciting investments in those properties and offering the same property to multiple investors. He is also accused of trying to return jewelery payments to an investor. Pina and his wife, full name Jennifer, now face more than 20 lawsuits.
What will happen next?
As previously reported, following his arrest, Pina was released on $1 million bond and is currently confined to New Jersey. If he is convicted of wire-fraud, he faces a maximum of 20 years in prison and a large fine.