Arrest Made in Multimillion Dollar Real-Estate Fraud Scheme, DJ Envy Under Investigation

On Wednesday, the United States Attorney’s Office announced the arrest of Cesar Pina for his alleged involvement in a multimillion dollar real-estate fraud scheme. Pina, 45, was charged with one count of wire fraud and pleaded not guilty. He was released on a $1 million bond and placed under electronic monitoring.

According to investors, Pina convinced them to invest in a property that he claimed would be rehabilitated and flipped for significant profits. The investors were promised a return of 30% within a few months. However, despite their investments, they never received any profits. IRS Special Agent in Charge, Tammy Tomlins, stated, “Plain and simple, the defendant ran a fraudulent scheme. They falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions.”

It is alleged that Pina successfully conned these investors into unknowingly buying into a single property that resulted in several million dollars in profits for him personally. As the investigation unfolds, DJ Envy, a business associate of Pina and a popular radio personality, has also come under scrutiny. Envy had been promoting the real-estate venture and now faces an investigation into his involvement.

Federal officers reportedly visited the iHeartRadio office where Envy is employed and seized electronic equipment as part of the ongoing investigation. However, as of now, Envy has not been charged in connection with the fraud. He maintains his innocence and explained his participation in real estate seminars during a recent episode of The Breakfast Club.

Envy expressed that his motive behind conducting these seminars was to uplift his community by teaching them about real estate and providing them with knowledge he wished he had when purchasing his own first home. He aimed to educate the community about investing and generational wealth.

The investigation continues as law enforcement and the IRS are dedicated to prosecuting any unlawful behavior related to this fraudulent scheme.