The Breakfast Club’s DJ Envy confronts litigation more than his connections so you’re able to Cesar Pina, having implicated regarding a beneficial ‘Ponzi-including scheme’. Just how did an invisible behemoth assist one thing get this far?
It just will not sound right
D J Jealousy are a great poster child to possess cool-hop’s crossover on the traditional. Over the past 30 years, new 46-year-old Queens native went of hustling hiphop mixtapes in order to anchoring this new Hello The united states out-of metropolitan broadcast – This new Morning meal Club, where the guy plays brand new role off schoolmarm into “the brand new planet’s most unsafe early morning let you know”. The brand new character away from failed home tycoon, yet not, may be his swan track given that Envy’s very own audience accuse him from perpetrating a fraud strategy they say bilked all of them away from millions.
Within the October, federal agencies in the New jersey arrested a good forty five-year-old influencer buddy out of Envy’s and you will repeat Break fast Club visitor titled Cesar Pina to have their suspected role when you look at the a great “Ponzi-instance money ripoff system”, asking him with wire scam
Prosecutors say Pina grabbed money from all those individual backers to help you flip house in Nj, promised as much as forty-five% efficiency within the four weeks, and you will skimmed those funds to have himself and you may very early initially buyers.
At least 20 lawsuits registered within exact same big date as the federal indictment define Pina once the an excellent conman and you may a beneficial slumlord: it is said he solicited financing to own features the guy didn’t own otherwise actually bother to resolve up and suckered numerous people into investing in identical bits of properties, and all of whenever you are pocketing dollars to have his very own use or perhaps to create whole with dated dealers. So-called sufferers also accuse him off wanting to outlay cash right back from inside the bling, and additionally branded pieces made by his brother. 1 / 2 of the latest litigation facing Pina in addition to entitled Envy (real identity: Raashaun Casey), blaming this new DJ to possess platforming Pina towards the Breakfast Bar and you can social media. Just past day, Pina and you will Envy had been titled in the a $2m suit accusing them of using the sequence regarding genuine-property conferences they managed together since the “funnels to draw within the sufferers”, and you can alleging abuses regarding organized crime rules and Nj-new lovingwomen.org kurkkaa täältГ¤ jersey Consumer Scam Work.
The latest conservative guess having Pina’s alleged ripoff ends up during the $25m, but one to scarcely talks about the growing headcount off subjects or Pina’s alleged top hustles: $2 hundred for seminar entry, individual meetings for $2,500. The past figure was regarding the vast sums, states Alexander Schachtel, another type of Jersey attorney whom stands for many sufferers suing Pina and you will Jealousy.
“Jealousy and Pina said in the recorded video which they own dos,000 features together value over $100m,” Schachtel claims. “If that’s real, what makes it increasing money from Joe Schmo the new mechanic? ”
Pina, that has out on an effective $1m thread and you can confronts a max 20-year phrase also a $250,000 great if the convicted, asserts their innocence. Jealousy was not faced with a crime as well as claims he lost $500,000 in the a bona-fide estate manage Pina. That the feds nevertheless detailed Pina had partnered with “a high profile disk jockey and you will broadcast identity so you can perform real estate seminars inside the nation” is to worry Envy and his businesses. At least, Jealousy are accountable for which have Pina, an ex-ripoff which supposedly manage the genuine property video game when you find yourself helping time to possess bank card fraud, into Break fast Club many times for the past five otherwise half a dozen ages. “I written Cesar,” Jealousy boasted inside the a recently resurfaced songs video. “Cesar wouldn’t have the lifeline or perhaps the life they have instead of good DJ Envy.”
“I thought they had some vetting process in place and make certain that he was legit,” states Stanley Acosta, a beneficial 31-year-old merchandising banker off Queens just who spent $150,000 into the Pina’s a house strategy just after reading him towards Break fast Club, and that Acosta paid attention to into the their travel into the really works. “They enhance others on there constantly – physicians, attorneys, other companies – and they’re the legitimate.”
