DJ Envy, co-host of the popular radio show The Breakfast Club, has received an unexpected show of support from Cesar Pina, the accused fraudster he is currently being sued alongside in a 'Ponzi-like investment fraud scheme'. In a recent Instagram Live video, Pina defended Envy, also known as RaaShaun Casey, stating that the radio host had no involvement in the business deals that are considered examples of the alleged fraud.
However, Pina didn't hesitate to counter Envy's claims of being a victim in the investment fraud scheme, leading to speculation about their apparent partnership. While Envy has not yet faced charges alongside Pina, he is referred to as 'Individual-1' in the criminal complaint and is described as Pina's business partner.
The defense of DJ Envy comes in the wake of federal agents raiding the offices of iHeartMedia, the company behind Envy's show. Despite having escaped criminal charges so far, Envy is listed as a co-defendant in the lawsuits filed against Pina.
Cesar Pina, a well-known figure in the house-flipping industry, is accused of promising lucrative returns on real estate investments in New Jersey. However, investors who are suing him claim to have received little or nothing in return for their investments. The alleged scheme involved promising high returns for flipping homes but diverting the funds for personal use or repaying earlier investors, resembling a Ponzi scheme.
Numerous individuals initially expressed their dissatisfaction with the returns offered by Pina on social media. These concerns eventually led to at least twenty lawsuits filed against him and his wife, with the total amount surpassing $40 million, as reported by Billboard.
While DJ Envy faces scrutiny due to his association with Pina, he regularly promoted him on his radio show, as well as assisting in organizing seminars to promote Pina's real estate services. However, according to Pina's Instagram Live video, Envy was not directly involved in any of his business affairs. Pina did not explicitly confirm or deny Envy's alleged involvement in the fraud scheme.
Pina also expressed his frustration at the investors suing him and their involvement in the government's case against him. He criticized their actions, stating that their efforts may hinder his ability to profit from house-flipping investments, thereby delaying any potential payouts to them.
As the investigation into the alleged fraud scheme continues, DJ Envy finds himself caught in the middle of legal battles, maintaining his innocence and denying any direct involvement in the investment fraud. With conflicting claims emerging from both sides, it remains to be seen how the lawsuits will unfold and whether Envy will face any further legal consequences.