Feds Raid iHeartMedia Offices After DJ Envy Business Associate Gets Arrested

On Wednesday, it was announced by the United States Attorney’s Office that Cesar Pina had been arrested for the role he allegedly played in a multimillion dollar real-estate fraud scheme. He was charged by complaint with one count of wire fraud.

Pina, 45, pleaded not guilty and was released on a $1 million bond as well as electronic monitoring. Investors claimed Pina said he would rehab and flip a property. They were to receive a return of 30% of the profits within months.

Pina had reportedly conned investors to unknowingly buy into one property that generated him a profit of several millions dollars. However, they never saw a dime.

“Plain and simple, the defendant ran a fraudulent scheme,” said Tammy Tomlins, Special Agent in Charge of IRS – Criminal Investigation Newark Field Office.

“They falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions. Today’s arrest highlights IRS Criminal Investigation and our law enforcement partners’ commitment to investigate and prosecute unlawful behavior.”

His business associate, radio personality DJ Envy, helped promote the real-estate venture and is also being investigated. Per NBC 4, federal officers went to the iHeartRadio office where Envy is employed and removed electronic equipment as part of the investigation.

So far, Envy has not be charged in connection to the fraud. In addition, he claims to be innocent.

During a recent episode of The Breakfast Club, Envy explained why he worked with Pina to conduct real estate seminars. “Now the reasons why I did this seminars is because I wanted to uplift my community,” he said.

“I wanted to teach my community about real estate, things that I didn’t know when I was first buying my first home. I wanted to teach our community about investing and in generational wealth.”