DJ Envy Jail: The fashionable radio host has not too long ago been in the highlight for his alleged involvement in an actual property fraud scheme.

DJ Envy is without doubt one of the hosts of the favored radio present The Breakfast Club.

His longtime enterprise companion, Cesar Piña, was arrested on federal wire fraud fees for operating a Ponzi-style rip-off that duped dozens of buyers out of tens of millions of {dollars}.

DJ Envy denied any wrongdoing and claimed he was additionally a sufferer of Piña’s deception. But what precisely did Piña do and what’s the connection between him and DJ Envy? Here’s what we all know up to now.

DJ Envy Prison: Is DJ Envy Arrested?

Currently, there is no such thing as a proof that DJ Envy was instantly concerned in or conscious of Piña’s fraudulent scheme. However, he may nonetheless face authorized penalties for his function as Piña’s companion and promoter.

Some victims have filed a lawsuit in opposition to DJ Envy and Piña, accusing them of breach of contract, fraud, negligence and unjust enrichment.

They are searching for damages for his or her losses and pursuits. DJ Envy may additionally face scrutiny from the IRS, which may examine his tax filings and monetary dealings with Piña.

He may additionally face questions from the FCC, which may examine whether or not he violated broadcasting guidelines or ethics by endorsing Piña’s actions on his radio present.

DJ Envy has retained attorneys to defend itself in opposition to lawsuits and attainable investigations.

He additionally apologized to his followers and listeners for any disappointment or confusion brought on by the scandal. He is dedicated to persevering with his work as a radio host and actual property educator.

“I’m sorry if anyone feels like I let them down,” DJ Envy mentioned on The Breakfast Club. “But I’ll proceed to do what I do greatest: train individuals about actual property. »

Envy met Piña, a former drug vendor turned actual property mogul, by a mutual pal in 2015. Piña claimed to have efficiently offered over 1,000 properties in New Jersey and amassed a fortune of $25 million.

He additionally bragged about his shut friendship with DJ Envy and used his superstar standing to draw potential buyers on social media and at seminars.

DJ Envy and Piña have co-hosted a number of actual property seminars throughout the nation, the place they taught aspiring entrepreneurs how one can make investments in distressed properties and rework them for revenue.

Arrest and indictment of DJ Envy in 2023: what the federal authorities say

According to the federal criticism filed by the New Jersey U.S. Attorney’s Office, Piña ran a fraudulent scheme from 2016 to 2021, the place he solicited cash from buyers beneath false pretenses.

He allegedly lied concerning the nature of his enterprise, the standing of his properties and the potential returns on his transactions.

He additionally misappropriated investor funds for private bills, debt funds and different tasks.

The criticism says Piña defrauded at the very least 40 victims of greater than $10 million. Some victims participated in seminars organized by DJ Envy and Piña.

Others have been referred by DJ Envy or contacted by Piña through social media. The victims mentioned they trusted Piña due to his affiliation with DJ Envy and his fame as a profitable pinball machine.

The FBI raided Piña’s New Jersey workplace and house on October 18, 2023 and arrested him on wire fraud fees.

He pleaded not responsible and was launched on $1 million bail with digital monitoring. He faces as much as 20 years in jail and a effective if convicted.

DJ Envy was neither arrested nor charged, however the FBI additionally raided his Breakfast Club workplace and seized laptops, exhausting drives and cell telephones.

DJ Envy maintained his innocence and mentioned he was unaware of Piña’s unlawful actions. He additionally acknowledged that he by no means acquired any cash from the defrauded buyers and that he misplaced some huge cash investing with Piña.

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“I would never take a dollar from someone,” DJ Envy mentioned on his radio present final week.

“I’ve been in radio for nearly 30 years, and by no means in my 30 years have I carried out something apart from attempt to uplift individuals and present them a distinct approach by the spirit of enterprise . »

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