This new Breakfast Club’s DJ Jealousy face lawsuits more his links in order to Cesar Pina, who has got implicated off an effective ‘Ponzi-eg scheme’. Exactly how did a radio behemoth assist anything make this much?

It just cannot sound right

D J Jealousy are a good poster youngster for cool-hop’s crossover into traditional. For the past 3 decades, the 46-year-dated Queens native ran regarding hustling hiphop mixtapes so you can anchoring this new Hello The usa off urban radio – The new Breakfast Bar, in which the guy takes on the fresh part off schoolmarm on the “the latest earth’s really risky day inform you”. The brand new role away from hit a brick wall a residential property tycoon, but not, might well end up being his swan tune given that Envy’s very own listeners accuse him off perpetrating a scam design they claim bilked them from millions.

Into the October, government representatives into the New jersey arrested good 45-year-dated influencer pal from Envy’s and you can repeat Breakfast Bar visitor called Cesar Pina getting their thought part in the a beneficial “Ponzi-such resource ripoff plan”, charging you your that have wire fraud

Prosecutors say Pina got money from those private backers so you can flip domiciles within the Nj, promised as much as 45% returns in the four months, and you can skimmed those funds getting himself and you will early initially investors.

At the very least 20 litigation recorded within exact same day once the federal indictment characterize Pina as good conman and you will a beneficial slumlord: it is said the guy solicited fund to have qualities he failed to individual or even irritate to resolve up and suckered multiple people for the expenses in the same pieces of characteristics, and all if you’re pocketing bucks for his own fool around with or even make whole having dated traders. So-called sufferers actually accuse your regarding trying to outlay cash back inside bling, along with labeled pieces made by his cousin. 1 / 2 of the latest lawsuits up against Pina in addition to called Envy (genuine label: Raashaun Casey), blaming new DJ getting platforming Pina towards the Breakfast Pub and you can social network. Merely history month, Pina and you will Jealousy was in fact named inside good $2m suit accusing them of using the string of real-home conferences it organized together since “funnels to draw when you look at the sufferers”, and alleging violations regarding planned offense legislation and the New jersey Consumer Ripoff Work.

This new old-fashioned guess to have Pina’s alleged swindle concludes at $25m, however, one rarely talks about the newest broadening headcount out of victims otherwise Pina’s so-called front side hustles: $2 hundred getting seminar passes, individual meetings to have $2,500. The past shape would be from the hundreds of millions, claims Alexander Schachtel, a different sort of Jersey attorneys exactly who stands for a few of the victims suing Pina and Jealousy.

“Envy and Pina told you into the registered videos which they very own dos,000 attributes together value more than $100m,” Schachtel says. “If that’s genuine, why are it raising money from Joe Schmo the fresh auto mechanic? ”

Pina, who’s got on a good $1m thread and you will faces a maximum 20-12 months sentence and additionally a good $250,000 okay if found guilty, asserts his purity. Jealousy wasn’t charged with a criminal activity as well as states the guy forgotten $500,000 in a genuine home deal with Pina. That feds nevertheless noted Pina got married with “a hollywood disc jockey and broadcast identity so you can carry what is indiancupid out a residential property conferences within country” is always to worry Jealousy along with his businesses. No less than, Jealousy is guilty of that have Pina, an ex lover-swindle which purportedly over come the real property game if you are providing big date to own mastercard fraud, on the Break fast Pub many times over the past four otherwise six decades. “I created Cesar,” Envy boasted when you look at the a lately resurfaced musical clip. “Cesar would not have the lifeline or perhaps the existence he’s got as opposed to a good DJ Jealousy.”

“I thought that they had certain vetting processes in place and make sure that he try legit,” claims Stanley Acosta, a good 31-year-dated merchandising banker of Queens just who invested $150,000 during the Pina’s a house campaign immediately following hearing your for the Break fast Bar, and that Acosta paid attention to into the his drive into functions. “They enhance others on the website constantly – doctors, attorneys, other businesses – and they’re all legitimate.”