In the next Rumor Report: "Breakfast Club" co-host DJ Envy, found himself in legal hot waters

 This Should Be In the next Rumor Report: "Breakfast Club" co-host DJ Envy, found himself in legal hot waters 

 

Cesar Pina, a business associate closely tied to the "Breakfast Club" co-host DJ Envy, found himself in legal hot waters on October 18. His arrest is linked to an alleged involvement in a real-estate Ponzi scheme. It's worth noting that Pina and DJ Envy had previously partnered in house-flipping endeavors in New Jersey, and Pina was known to make guest appearances on the "Breakfast Club" under the moniker "Flipping NJ."

However, the situation has taken a concerning turn, as federal prosecutors have now levelled accusations against Pina, claiming that he "defrauded dozens of individuals, resulting in losses amounting to millions of dollars." Pina faces one count of wire fraud in connection to these allegations.

On the very same day as Pina's arrest, reports emerged that the New York office of iHeartRadio, where the popular morning show "Breakfast Club" is recorded, experienced a surprise visit from federal officials who seized electronic equipment.

Notably, DJ Envy, whose real name is RaaShaun Casey, has not faced any charges at this time. However, the federal complaint against Pina does make reference to "a well-known disc jockey and radio personality" whose identity isn't particularly difficult to discern.

The question that lingers: What precisely is unfolding in this unfolding story?

According to prosecutors, Cesar Pina initiated a troubling course of action beginning in 2017. He began soliciting investments for property renovations and resale projects, promising an enticing return on investment ranging from 20 to 45 percent within a five-month period. However, allegations suggest that Pina diverted some of these investments for personal use and resorted to a questionable practice of using new investments to repay previous investors. Troublingly, just days before Pina's legal charges, NBC 4 New York reported on several investors who had yet to receive the promised returns on their investments.

Pina's actions include soliciting investments for properties he didn't even own, duping multiple investors into funding the same properties, and, incredibly, offering to reimburse an investor with jewelry instead of cash. Presently, both Pina and his wife, Jennifer, are confronted with at least 20 lawsuits.

Prosecutors assert that Pina cultivated credibility by co-hosting real estate seminars alongside DJ Envy before embarking on the alleged flipping scheme. Envy frequently endorsed the project on the "Breakfast Club," boasting about how they had "assisted countless individuals." Notably, many disappointed investors who spoke to NBC 4 revealed that they had invested based on Envy's endorsement. These investors include individuals like Augie Rios, who had worked on vehicle wraps for Envy, and Anthony Martini, a producer who had a professional connection with Envy. Billboard reported that Envy is currently named as a co-defendant in nine of the lawsuits filed against Pina.

However, following the NBC 4 investigation, Envy strongly refuted any involvement in the Ponzi scheme on the "Breakfast Club," stating, "Cesar, if he took money, I wasn't privy to it, nor did I even know." Despite this assertion, he acknowledged giving money to Pina, which was not returned. Envy did express his intention to clarify some aspects of the situation, though co-host Charlamagne tha God suggested he heed his attorneys' advice, noting the sensitivity of the matter.

Subsequent to his arrest, Pina was released on a $1 million bond, but he is currently restricted from leaving New Jersey. If found guilty on the wire fraud charge, he could potentially face a prison sentence of up to 20 years, coupled with substantial fines. Regarding the financial aspect, two of Pina's companies filed for bankruptcy earlier this year, and his wife also made an unsuccessful attempt to do so. A judge has since ruled to appoint a trustee in both bankruptcy cases to address the debts owed to investors. An attorney representing two victims remarked, "This will soon become the proverbial race to the courthouse to seize whatever assets remain of the Pinas and their entities."

As for the aftermath of the iHeartRadio office raid, the details remain uncertain. However, Joe Budden appears to have had a premonition. On an episode of the Kitchen Talk podcast from October 2021, DJ Envy mentioned that he had consulted Joe Budden for advice when he ventured into real estate. Budden apparently warned him that the proposed project "just sounded fishy" and likened it to a Ponzi scheme, even predicting that Envy might find himself in legal trouble.

They claim to have a hands on barging basement in New Jersey, like fixed uppers and flipped them for a pretty pennies. The also said they have a team of experts to help them with the process. From contractor, to lawyers and agents. Behind of all this pursued on flipping houses. Cesar has a record that goes way back to  2003. Like tricky, forgers, swiping identify, credit card scams and even drugs bust. On top of that he has some contractor breathing down his neck say that he own them money for working on his property. This is not all the US Attorney in New Jersey filled a compliant saying that Seizure ran a scam from 2016 to 2021. He was getting folk to invested their cash by telling tells about his business, property and the cash they will rack in. It turns out he was using their money for his own needs and paying off debits.