Amid Lawsuits, The Accused Real Estate Fraudster Asserts That Dj Envy Is Not Involved In The Scheme
(Amid Lawsuits, The Accused Real Estate Fraudster Asserts That Dj Envy Is Not Involved In The Scheme /ImageCredits: SCPS Assam)

DJ Envy's association with alleged real estate fraudster Cesar Pina has recently attracted attention and raised concerns. However, Pina himself has addressed the matter and asserted that DJ Envy is not involved in the fraudulent activities that have led to multiple lawsuits.

During an Instagram Live video shared this week and subsequently reposted on YouTube by Tony the Closer, Pina clarified that DJ Envy was never present in any of the situations that gave rise to the 20 ongoing lawsuits. 

Also Read: Cesar Pina, a frequent on Dj Envy's 'The Breakfast Club', arrested for real estate Ponzi-scheme

Watch Video:  Tony the Closer, Pina clarified that DJ Envy 

To Clarify Any Misunderstandings

To Clarify Any Misunderstandings
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

Pina emphasized that DJ Envy has no connection whatsoever to any of the individuals who are currently suing him. It is important to note that Pina's statement, made through social media, aims to dispel any misconceptions and clarify DJ Envy's lack of involvement in legal disputes. 

Pina, a real estate investor from New Jersey, who was a regular guest on DJ Envy's iHeartRadio show, The Breakfast Club, was apprehended on October 18th for engaging in a fraudulent investment scheme resembling a Ponzi scheme, involving millions of dollars. 

Also Read:  DJ Envy Real Estate Scandal In 2023: All About His Recent Arrest And Lawsuits Through All The Years

Surveillance Of Electronic Monitoring

Surveillance Of Electronic Monitoring
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

U.S. Attorney Philip R. Sellinger declared in a press release that Pina has been indicted with a single charge of wire fraud. Following his appearance in Newark federal court, Pina was granted release on a $1 million bond, subject to electronic monitoring. 

Court documents indicate that Pina collaborated with a renowned disc jockey and radio personality to organize real estate seminars nationwide. These seminars, along with self-promotion and various marketing tactics, contributed to Pina's substantial social media following. 

Also Read: DJ Envy Had ‘Nothing To Do’ With Alleged Real Estate Ponzi Scheme, Accused Fraudster Says

The Revitalization Was Necessitated

The Revitalization Was Necessitated
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

Massimo D'Angelo, the attorney representing DJ Envy, has emphasized that the radio host played no role in the alleged scheme. It should be emphasized that DJ Envy is not implicated, despite not being explicitly mentioned in the charges. Furthermore, D'Angelo has taken legal action to dismiss two lawsuits that erroneously named Envy. 

Envy, as stated by D'Angelo, was approached by Pina with an investment proposition in late 2019. This proposition entailed the revitalization of an unoccupied school property located in Paterson, N.J., to establish an apartment building. 

The Investment Scheme In Question

The Investment Scheme In Question
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

Pina was assigned the task of supervising the complete construction process of one and two-bedroom apartments, which were planned to be leased out at market rates, as per D'Angelo's statement. 

In light of Envy's investment of $500,000, Pina pledged to reimburse the investment within a year and furnish a monthly dividend of approximately $17,000, as per D'Angelo's claim. The filing indicates that the alleged investment scheme, in which Pina purportedly accepted investments to buy, renovate, and sell real estate properties, began in 2017. 

The Text Has Been Rewritten

The Text Has Been Rewritten
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

The complaint alleges that Pina enticed his victims by offering them returns on investment ranging from 20 to 45 percent within five months. However, contrary to his promises, Pina resorted to a fraudulent scheme resembling a Ponzi scheme. 

This involved mixing the funds of his victims, utilizing new investments from subsequent victims to repay earlier ones, and misappropriating victim funds for personal expenses. The investigation has uncovered that Pina deceived numerous investors, resulting in the loss of millions of dollars. 

Investment Knowledge

Investment Knowledge
(To clarify any misunderstandings/ImageCredits: The Hollywood Reporter)

On October 11th, DJ Envy addressed accusations regarding his participation in a video shared on his and The Breakfast Club's Instagram profiles. During a conversation with co-host Charlamagne tha God, he expressed, "Allow me to elucidate certain matters. 

Although my legal advisors advise against speaking, I believe it is necessary to provide some clarification." Cesar and I conducted seminars to uplift our community and educate them about real estate, a subject I was unfamiliar with when I purchased my first home. We aimed to impart knowledge about investing and generational wealth to our community.