DJ Envy Had ‘Nothing To Do’ With Alleged Real Estate Ponzi Scheme, Accused Fraudster Says
Written by djfrosty on October 25, 2023
Cesar Pina, a celebrity house-flipper accused of running a “Ponzi-like investment fraud scheme,” said Tuesday (Oct. 24) that New York City radio host DJ Envy had “nothing to do” with the real estate deals in question.
Critics have claimed that Envy, who hosts the popular hip-hop radio show The Breakfast Club, played a key role in Pina’s alleged fraud by promoting him on the air. But in an Instagram livestream Tuesday, Pina said Envy was not directly involved in any of the investments that led to a wave of civil litigation and last week’s federal charges.
“DJ Envy was never in the room with me,” Pina said on the livestream. “DJ Envy has nothing to do with any of these 20 lawsuits of these people who are suing me. It f—ing sucks, bro. It pisses me off that all these people are bashing DJ Envy.”
But later in the same stream, Pina also rejected arguments, advanced by both Envy and his lawyer, that the radio host was actually a potential victim of the alleged scam. “That’s the dumbest s— I ever heard in my life,” Pina said. “He’s not a victim. He was my partner, he was an investor.”
For months, Pina has faced allegations that he promised dozens of investors big profits on real estate deals in Northern New Jersey, only to return little or nothing. Those accusations started on social media but quickly turned into at least 20 civil lawsuits; one victim attorney estimated that more than 30 investors have come forward, seeking over $40 million from Pina and his wife, Jennifer.
Many of those lawsuits, including one filed by music industry veteran Anthony Martini, name DJ Envy as a co-defendant, citing his close ties with Pina — including Pina’s frequent appearances on The Breakfast Club and a series of real estate seminars that the two men co-hosted. Envy has strongly denied the accusations, saying he knew nothing about any foul play and actually lost $500,000 that he invested with Pina.
The situation escalated last week when federal prosecutors charged Pina with running a “a multimillion-dollar Ponzi-like investment fraud scheme.” Though Envy was not charged, the feds specifically noted that Pina had “partnered with a celebrity disc jockey and radio personality” — listed in the charges as “Individual-1” — to boost his reputation as a real estate guru.
In addition to discussing Envy during Tuesday’s livestream, Pina spent more than 20 minutes offering at-times rambling opinions on the entire situation. At one point, he seemed to argue that jilted investors may be less likely to recoup their investments now that the legal process has begun.
“And guess what, you f—ing geniuses? Now the government is involved. Now the government is gonna come in and say, ‘We’re staying all these lawsuits until your criminal proceedings are done,” Pina said. “So guess what? From a year to two years to getting paid — now it could be three to five years! And you guys will be lucky if you see anything. This is the most r——d s— in the world.”