Fans say it’s not looking too good for DJ Envy after his alleged business partner was arrested Wednesday, Oct. 18, on federal charges of running a real estate fraud scheme.
Dubbed the “Real Estate RICO,” by his nemesis Rick Ross, Envy has been accused by dozens of victims of being an accomplice in a Ponzi scheme authorities claim was orchestrated by the arrested Cesar Pina and his wife Jennifer.
The Pinas are being accused of running a fraudulent real estate company and stealing money from investors after promising the funds would be used to fix up multiple real estate ventures across New Jersey. The money that the Pinas received allegedly never went into those investments.
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Envy, real name RaaShaun Casey, is involved in the case because many of the accusers claim that he was the one who connected them to the Pinas through publicity. The radio disc jockey had Pina as a guest on “The Breakfast Club more than once, he spoke several seminars hosted by the Pinas, and he made dozens of social media posts supporting their business, “Flipping NJ,” which has him listed as a co-owner.
The 46-year-old nonetheless is denying any involvement with the Pinas, claiming that he was ignorant of any malpractice. He claims that he was wrongly included in the lawsuit because of his celebrity status and that his attorneys do not want him to speak on the matter, but on Oct. 11 he did just that.
On “The Breakfast Club,” Envy said he did the seminars with Pina because he wanted to “uplift” his community by teaching others about generational wealth and how to buy homes online.
“I did these seminars and brought industry professionals to all these seminars,” he admitted. “Now Cesar, if he took money, I wasn’t privy to it, nor did I even know. But I do understand how people feel if they did give him money.”
He then claimed that he knows how Pina’s victims feel because he allegedly gave him “a lot of money” that he didn’t get a return on. “I never stole nothing from nobody, and I’ll leave it that,” Envy concluded.
Just days after this episode aired, Pina was arrested by federal agents on one count of wire fraud charges. He pleaded not guilty, and he was later released on a $1 million bond. Pina has been placed on electronic monitoring, and cannot leave the state of New Jersey, as he could potentially face additional charges for money laundering.
In the complaint to announce the charges, local U.S. Attorney Philip R. Sellinger said “Pina exploited celebrity status and social media to develop a devoted following of potential victims.”
It continued, “Promising returns that were too good to be true, Pina allegedly defrauded dozens of people of millions of dollars. Our office is committed to protecting the public from these schemes and prosecuting those who lie to investors for their own personal gain.”
The statement claims Pina presented himself a “highly successful real estate investor, owned thousands of properties in multiple states, and had business relationships with numerous celebrities.”
An inside source also told NBC New York that “the iHeartRadio offices were visited by the FEDS who took out electronic equipment as part of this investigation.”
Fans believe that it may be over for Envy, including one who said, “That statement from DJ Envy of him having to step away from the Breakfast Club for ‘personal reasons’ is right around the corner.” Another one added, “The Feds raid 105.1 about the DJ Envy RICO investigation & has arrested his associate??? It ain’t look good for bruh!”
The Feds raid 105.1 about the DJ Envy RICO investigation & has arrested his associate ??? It ain’t look good for bruh! 👀👀 pic.twitter.com/zylIbtl6j5
— Van (@vanman_1000) October 19, 2023Envy has not responded to Pina’s arrest, therefore he may be listening to his lawyers this time around by no commenting. While fans continue to wait for his statement or acknowledgment, others want to know if the “Biggest Boss” has heard the news yet.
Ross and Funk Flex helped popularized calling the case the “Real Estate RICO,” during an eight-minute-long roast session where they clowned Envy for “selling the Statue of Liberty,” and “stealing old ladies’ houses.”
DJ envy wife cleaning her instagram in a desperate attempt to hide all the designer shit she used to post like the Feds are some local city operation and don’t already have that shit is HILARIOUS.
— Nobody (@supernobodyy) October 19, 2023Fans claim that Envy’s wife, Gia Casey, has since removed some of her posts that feature the dozens of luxury designer items Envy buys her throughout the year. He’s notorious for buying her gifts for each of the 12 days leading up to Christmas.
If convicted, Pina faces up to 20 years in prison.
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