A significant development has occurred in an alleged real estate scam involving Caesar Piña, who has been linked to The Breakfast Club co-host DJ Envy. Piña was arrested by federal agents on charges of wire fraud, signaling a potential breakthrough in unveiling the full extent of the alleged scheme. Investigations suggest that this may just be the beginning, with further charges of money laundering likely to follow.
Caesar Piña, also known as Flipping NJ on Instagram, had a flourishing real estate business that he promoted regularly on The Breakfast Club. On one of his appearances, Piña boasted about his financial success, claiming to have made $50 million in real estate. However, the federal complaint reveals that Piña was engaged in a Ponzi-like scheme that defrauded numerous investors of millions of dollars.
Victims interviewed for the investigation expressed their losses, ranging from $64,000 to a staggering $1 million. Many claim that DJ Envy's celebrity status influenced their decision to invest, as he advertised the partnership on the radio and television. Investors were promised quick profits from rehabilitating and flipping distressed properties, primarily located in Patterson, New Jersey.
Unfortunately, many investors claim they never received any returns on their investments and have consequently filed lawsuits against Piña. The government accuses Piña of pocketing $17 million from just four properties. As news of his arrest broke, an interview with Jeff Robinson, who had invested $325,000, revealed the emotional toll this scam took on him. Jeff's son tragically passed away six months prior in a car accident, leaving behind two children. His main concern now is to ensure that the money owed to his grandchildren is rightfully returned.
Caesar Piña has pleaded not guilty and is being released on electronic monitoring, under the condition that he cannot leave the state of New Jersey. DJ Envy, whose real name is Rashan Casey, has not been charged, but alleged victims claim his celebrity status played a role in influencing their decision to invest. As investigations continue, sources claim that federal agents have visited iHeart Radio offices and seized electronic equipment as part of their inquiry.
Source: Youtube
