This shit is getting ridiculous
Mad soaperish
And we need to stop disrespecting Big Pun
Is DJ Envy (aka Individual #1) a real estate scammer?
- Thread starter ViCiouS
- Start date
This shit is getting ridiculous
Mad soaperish
And we need to stop disrespecting Big Pun
Agreed
DJ Envy Defended by Ex-Biz Partner Cesar Pina, Calls Out Rick Ross, Funk Flex
DJ Envy's former FlippingNJ business partner Cesar Pina is breaking his silence after getting hit with wire fraud charges ... and he's denying "The Breakfast Club" cohost was responsible for any wrongdoing.
www.tmz.com
New Jersey Real Estate Investor and Online Influencer Charged with Multimillion-Dollar Investment Fraud Scheme
NEWARK, NJ. – A New Jersey real estate investor and influencer was arrested today for committing a multimillion-dollar Ponzi-like investment fraud scheme.
Lawyers don’t really want to lose big cases bro. It ain’t about short term money. You wanna look good so you can command more money.
My only response is that this is federal, expect to lose. Someone is going to take the case, has to.
They can walk away bragging that they got him the lowest sentence possible BS.
DJ Envy Defended by Ex-Biz Partner Cesar Pina, Calls Out Rick Ross, Funk Flex
DJ Envy's former FlippingNJ business partner Cesar Pina is breaking his silence after getting hit with wire fraud charges ... and he's denying "The Breakfast Club" cohost was responsible for any wrongdoing.
New Jersey Real Estate Investor and Online Influencer Charged with Multimillion-Dollar Investment Fraud Scheme
NEWARK, NJ. – A New Jersey real estate investor and influencer was arrested today for committing a multimillion-dollar Ponzi-like investment fraud scheme.www.justice.gov
@playahaitian i guess there's no need for a class action suit, the feds will already be going after restitution, they have the victims already. I think they building their ties to Envy is my assumption or he singing for less time. Also Ceasars wearing an ankle monitor.
From the article:
"Pina partnered with a celebrity disc jockey and radio personality to conduct real estate seminars around the country. Through these seminars, self-promotional efforts, and other marketing strategies, Pina developed a significant social media following.
Starting in 2017, Pina began accepting investments from victim investors for the alleged purchase, remodel, and sale of specific real estate projects in New Jersey and other states. To induce his victims, Pina often promised 20 to 45 percent returns on investment within five months. But instead of using victims’ investments as promised, Pina engaged in a Ponzi-like scheme by commingling victim money, using new victim investments to pay off prior victims, and spending victim funds on personal expenditures. The investigation has revealed that Pina defrauded dozens of investors of millions of dollars."
Told ya he gonna say envy was a partner in the seminars aka envy got paid. Which contradicts everything envy been saying. If he recieved that money under the table.. tax evasion, fraud
Heard from an industry insider. Don’t be surprised if they also try to tie it into Fetty Wap’s activities
This isn’t about bad real estate investments.
If me and you go in on a deal and it falls apart that isn’t fraud.
Cesar did 2 illegal things:
1. He sold a security. Which is basically a stock. He said he would get these people 30% return on their investment and signed paper work saying that. He didn’t give them the 30% return and didn’t give them their original investment back. These are crimes.
2. It was discovered that he took money from multiple people promising them securities on the same property. He over leveraged the properties and created a ponzi - pyramid scheme. That is a crime.
3. convinced "investors" to buy shares / % of properties that Cesar and Envy did not own
Feds only do social media when they got jail time.
Desus Nice Roasts Rival DJ Envy Over Alleged Fraud
Bringing their beef to “The Daily Show,” Nice poked fun at his rival’s “Property Brothers-ass crime.”
www.thedailybeast.com
4. Wire fraud. If he used any digital payment transfer
Tax evasion when they find out envy was lying on them books collecting money from them seminars.. how you get them new cars mr envy when it says your power 105 contract shows you can’t afford them cars
Envy: easy man real estate uhhh I mean my seminar uhhh
Feds: you know you done fucked up
I don't recall any of the big name players (Gary V and etc...) saying how they paid him, but I can see Cesar being cognizant of potential wore fraud and asking for checks to a shell or overseas account
All the black, brown and etc "regular" people were asked to pay in cash.....
Do you know Envy's salary from iheart?
This is what happens when you talk too much
He said he doesn't owe him money, but now he does? So is it the school and that's just outstanding?
and he was investing money with him, but he didn't know others were? But right here he says give them back their money.
It says this yr was about 3 million.. several yrs ago it wasn’t that
I thought even allegedly got money (in the millions) from a settlement from/related to Star talking shit about his daughter. Add that with the Breakfast Club and his DJing gigs and it's not crazy to think those things overall funded his lifestyle.
I don't think Envy outright scammed anyone. He is guilty of allowing his name and platform to be used. The question for me is when did he first hear about the possibility of the scam and when did he take the stories seriously. A ponzi is designed just like Envy described. Envy gave up money for an investment and was paid for it. He goes on to recommend Cesar to friends and his audience based off his multiple good experiences. At somepoint, Envy doesn't get paid for a much larger investment. Because Cesar has paid in the past, Envy doesn't think much of it. Even when people start coming to Envy complaining about not being paid, Envy doesn't believe the story and in some cases downplay it as hate or people not understanding how investments work ie not happening over night or having delays. That and ego are part of the reason Envy originally says Cesar doesn't owe him any money. He couldn't admit to the world that he'd been scammed for 500k. He also considered the school a partnership between and not the same as the other traditional investments.
People keep saying Envy had an office next to Cesar but the reality is that doesn't mean he knew what was happening. If a broker A is committing fraud it doesn't mean everyone at the firm was aware. Sharing an office space does not mean Envy was aware of all of Cesar's dealings. Their primary partnership seemed to be the seminars and they'd partner on some properties from time to time.
He isn't likely to get out of the civil cases, buy I don't think he has much to worry about on the criminal case. At least not based on what has been disclosed to the public so far.
105 vs hot 97.. it's been a history with those 2 stations
It seems wild personal though. Ebro and jewsenberg were nice about it calling him a good guy.
They literally got a vid of a complex that was supposed to be built 3 yrs ago still not being started, yet they collected about 7 figs for it. That doesn't throw up red flags about something ain't right here?.. why not return the money or start pushing for it to be built unless you didn't really care about the property and just wanted the money
If you been following the vids. Envy has said he never stole from no one ever. Than in another vid he explains how he has a larceny charge in VA from when he use to steal thousands of dollars worth of equipment from Sam's club.. he claims he did it at least 3-4 times. Explained how he mastermind it by specifically going on Sundays dressed up in a suit to look like he was coming from church. Even explained how he didn't even needed the money just did it to try to look cool. He even snitches on his plug for that whole scheme. Quietly admitted he committed fraud in order to acquire a place to stay at while in VA.. he was doing this at 19/20 which shows he already had a mindset of manipulation, thievery, fraud, snitching. He telling you who he really is