Celebrity house-flipper Cesar Pina, facing accusations of orchestrating a “Ponzi-like investment fraud scheme,” has cleared DJ Envy of any involvement in the controversial real estate dealings that have led to multiple lawsuits and recent federal charges.
Pina, addressing the accusations in an Instagram livestream, emphasized that DJ Envy had no direct role in the investments under scrutiny. “DJ Envy was never part of the discussions,” Pina asserted during the livestream. “None of the legal battles involving 20 lawsuits have anything to do with DJ Envy. It’s unfortunate and frustrating to see people unjustly targeting DJ Envy.”
However, Pina also dismissed assertions made by Envy and his legal team, which suggested that Envy might have been a victim in the alleged scam. Pina labeled this notion as “absurd,” stating, “He was not a victim. He was my partner, he was an investor.”
Over the past few months, Pina has been confronted with allegations of promising significant returns to investors for real estate ventures in Northern New Jersey, which resulted in numerous investors seeking legal action. This included lawsuits filed by multiple individuals, one of whom was music industry veteran Anthony Martini. Several lawsuits also named DJ Envy as a co-defendant, citing his close association with Pina, including joint appearances on The Breakfast Club and collaborative real estate seminars. Envy vehemently denied any involvement in the alleged wrongdoing, stating that he himself had lost $500,000 from investing with Pina.
The situation escalated when federal prosecutors filed charges against Pina, accusing him of operating a “multimillion-dollar Ponzi-like investment fraud scheme.” While Envy remained uncharged, the prosecution highlighted Pina’s association with a “celebrity disc jockey and radio personality” as a means of enhancing his credibility in the real estate domain.
During the Instagram livestream, Pina addressed the potential implications of the legal proceedings on the investors. He expressed concerns that the involvement of the government might significantly prolong the process of recouping investments, potentially leading to delays of three to five years. Pina’s statements, at times impassioned and lengthy, highlighted his frustration with the complexity of the situation.
The ongoing developments in the case continue to attract attention and scrutiny, with both Pina and Envy maintaining their positions as the legal process unfolds.