Popular radio host DJ Envy has come under intense scrutiny for promoting his friend’s real estate business, but some investors claim it was a plan.
Envy has frequently promoted his friend Cesar Pina’s real estate business on iHeartRadio’s syndicated show “The Breakfast Club.” But it’s not just a temporary endorsement.
“We’ve helped so many people, not just ordinary people, but celebrities, athletes, business executives,” DJ Envy said on his radio show.
Envy and Cesar collaborated on seminars, including one at a convention center, often touting real estate flipping opportunities in difficult areas of New Jersey.
Jose Santiago and his wife, Jessica Ortiz, say they believed investing in a Paterson-area real estate venture would be their ticket to the American dream.
“That’s why I got into real estate, so I can actually convert real estate or buy real estate so I can give something to my kids in the future,” Ortiz said. told News 4.
The couple met entrepreneur Cesar after seeing him perform with DJ Envy on social media.
“He was promoting this on the radio and TV, so I thought it was legal,” Santiago said. “I invested $200,000 and I don’t think I’ll ever get it back.”
The pitch is to invest in dilapidated properties that can be renovated and converted into cash. Promised return: up to 30% of profits. In some cases, Cesar did not own the property, such as when Santiago and Ortiz took $200,000 in stock from their Florida home to finance a project. They said they were told they would make a profit within four months, but they never made a penny.
“Right now I’m paying interest every month and there’s nothing,” Santiago said.
Nigel Chamblin claims Cesar tricked him into investing $235,000 in the same Patterson property and homes in Hawthorn and Maplewood, which each cost $300,000.
“There were other people investing in the exact same property. It was a scam and it was a lie,” Chamblin told News 4.
Augie Rios, who owns a custom auto wrap shop in Lodi and has been working on ENVE cars for many years, said he believed in his pitch. He recouped his profits from his first investment with Cesar, but keeps his second investment in Patterson real estate to the south.
“If it wasn’t for Envy, I wouldn’t have invested in Cesar,” Rios said. “I lost a total of $64,000.”
Rios said that after receiving two past due checks, she received a visit from Cesar, who was holding a jewelry box.
“He wants me to keep this jewelry until I can pay him back,” said Rios, who estimated the box contained between $15,000 and $20,000 worth of items.
And record producer Anthony Martini invested in what he thought was a promising apartment project.
“I lost a million dollars,” he said. Martini said he made the investment because of Envy, whom he has known for many years. His lawyer filed a lawsuit.
A dam of complaints opened when alleged victims began appearing on the social media platforms of Tony the Closer, an influencer who calls himself a real estate fraud watchdog.
Currently, there are dozens of lawsuits filed against Cesar and his wife, several of which also name Envy, who was arrested after performing live with Tony the Closer. , is suing for defamation.
“I don’t take a dime from anyone,” Envy said on his stream with Tony.
Envy (real name LaShawn Casey) refused to speak to the I-Team and instead referred us to a leading real estate lawyer in Manhattan. The attorney said the radio personality lost $500,000 to the Pinnas on an investment deal that turned a vacant school building in Paterson into a rental property.
”[Envy] Envy’s lawyer, Massimo D’Angelo, said: “He is a victim, like the other alleged victims connected to the fraud. We are fighting,” he said.
When asked why the DJ didn’t use his radio show to warn other victims, his lawyer cited “ongoing litigation.” Lawyers are asking for all lawsuits to be dismissed.
Meanwhile, Jennifer Pina insists the money will come.
“I say if you stay strong you will get through it,” she told News 4.
There is some hope for investors who have purchased real estate in Paterson and elsewhere in New Jersey. A judge appointed a bankruptcy trustee to oversee some of the Pinas family’s companies.