Real Estate Rip-Off Controversy Surrounds DJ Envy’s Business Partner
The attorney for radio talk show host DJ Envy, whose real name is Rashaun Casey, is blasting investors who say they were victimized in a real estate scheme orchestrated by the celebrity’s former business partner.
Cesar Pina’s Real Estate Enterprise Accused of Wire Fraud
In October 2023, federal authorities in New Jersey charged Cesar Pina, nicknamed ‘Flippin’ NJ, with wire fraud, accusing him of running a Ponzi-type real estate enterprise offering investors an opportunity to flip houses in distressed New Jersey neighborhoods.
Investors File Civil Lawsuits Against Cesar and Casey
By that time, several investors who paid anywhere from $100,000 to a million dollars, had filed civil lawsuits against Cesar, his wife, and Casey. Pina often appeared on Envy’s syndicated radio show, The Breakfast Club.
Court Denies Delay in Civil Lawsuits
Cesar’s attorney tried to delay the civil lawsuits because of the criminal case, but a judge recently denied that request.
Investors Obtain Bank Records Showing Systematic Embezzlement
Attorneys for several investors say they have already obtained bank records showing that the Pinas systematically cleaned out multiple bank accounts and moved money, sometimes hours, after receiving investor funds.
Estimated Losses Total $25-$50 Million
“I would estimate that between $25 and $50 million that was taken from bank accounts,” said Alexander Schachtel, who represents 12 investors. Attorneys for alleged victims claim Envy/Casey should be held liable for promoting Pina.
Investors Blame Envy for Endorsing Pina
“None of us would have invested with Cesar if it had not been for Envy’s endorsement,” said Luis Hernandez, who paid $250,000 to invest.
Casey’s Attorney Blasts Investors
Casey’s attorney, Dan Marchese, blasted the plaintiffs, accusing them of smearing the celebrity’s good name and reputation in the hope of shaming him into some type of financial resolution.
“This is Green-Mail, Pure and Simple”
“This is green-mail, pure and simple,” he said.
Pina’s Bail Revocation Hearing Scheduled
Pina is scheduled to be back in federal court in Newark on Monday for a bail revocation hearing.
Investigation Uncovers New Real Estate Transactions and Witness Contact
Sources close to the investigation tell News 4 he may be accused of engaging in new real estate transactions and attempting to contact witnesses.
Conclusion
The controversy surrounding DJ Envy’s business partner, Cesar Pina, continues to unfold as investors file civil lawsuits and federal authorities investigate allegations of wire fraud. The case highlights the importance of due diligence in real estate investments and the potential consequences of endorsing unscrupulous business practices.
FAQs
Q: Who is Cesar Pina?
A: Cesar Pina, also known as ‘Flippin’ NJ, is a real estate entrepreneur accused of running a Ponzi-type real estate enterprise.
Q: What is the alleged scheme?
A: Pina allegedly offered investors an opportunity to flip houses in distressed New Jersey neighborhoods, but instead, used investor funds for personal gain.
Q: Who is DJ Envy?
A: DJ Envy, whose real name is Rashaun Casey, is a radio talk show host and celebrity who appeared on his syndicated radio show, The Breakfast Club, alongside Cesar Pina.
Q: What is the current status of the investigation?
A: The investigation is ongoing, with Pina scheduled to appear in federal court for a bail revocation hearing.
