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A business partner of The Breakfast Club co-host DJ Envy has been arrested on a federal wire fraud charge in an alleged Ponzi-like real estate scheme.

Cesar Humberto Pina, 45, was arrested on Wednesday, as prosecutors said he bilked investors in his New Jersey home flipping scheme out of millions with false promises of huge returns.

Pina, who also goes by the moniker ‘Flipping NJ’, appeared often on the popular Breakfast Club morning radio show, hosted by DJ Envy and Charlemagne Tha God, where he touted his investment schemes.

DJ Envy, whose real name is RaaShaun Casey, has not been charged with wrongdoing, although a criminal complaint identifying him only as ‘Individual-1’ calls him Pina’s business partner, saying his fame was key to the alleged scheme.

As part of the probe, federal agents raided the offices of iHeartMedia, which syndicates the Breakfast Club, and seized electronic devices, senegal vm shirt according to WNBC-TV.

Cesar Humberto Pina, 45, was arrested on Wednesday as prosecutors said he bilked investors in his New Jersey home flipping scheme out of millions

Pina (right) appeared regularly on the popular Breakfast Club morning radio show, hosted by DJ Envy (left) and Charlemagne Tha God

DailyMail.com has reached out to iHeartMedia for comment. DJ Envy appeared on The Breakfast Club as usual on Thursday morning, but the show did not address Pina’s arrest.

Prosecutors say that since 2017, Pina has solicited investments from small investors to flip homes in New Jersey and elsewhere, promising returns of 20 to 45 percent in five months.

But instead of investing the funds as promised, the complaint alleges that Pina siphoned some of the funds for personal use, and used other victim funds to pay off earlier investors in a ‘Ponzi-like’ scheme.

‘We allege Pina offered a ridiculously high rate of return to investors, then took the millions he got and invested it in himself,’ said Special Agent in Charge James E. Dennehy of the FBI’s Newark field office.

‘History has proven time and again, Ponzi-schemes don’t work. The pot of gold at the end of the rainbow eventually runs out. Investors take note – it’s your money, don’t let them steal it,’ he added.

A criminal complaint reviewed by DailyMail.com does not name DJ Envy, but he is clearly identifiable by the description provided as the person dubbed ‘Individual-1’.

‘Pina and his business partner, a well-known disc jockey and radio personality (‘Individual-1′), operated a company that conducted real estate seminars around the country,’ states the complaint written by Pankaj Sharma, a special agent with the US Attorney’s Office for the District of New Jersey.

‘Together, they used Individual-l’s celebrity to promote various real estate enterprises that Pina controlled,’ added Sharma.

‘During real estate seminars, private one-on-one sessions, advertisements, public appearances, and otherwise, Pina represented that he was a highly successful real estate investor, owned thousands of properties in multiple states, and had business relationships with numerous celebrities.’

Pina, who also goes by the moniker ‘Flipping NJ’, appeared often on the iHeart syndicated show The Breakfast Club, hosted by DJ Envy (right) and Charlemagne Tha God (left)

As part of the probe, federal agents reportedly raided the offices of iHeartMedia and seized electronic devices

Pina traveled the country holding seminars like the one above in Houston, where he solicited investments in his purported home flipping scheme in New Jersey

DJ Envy (above), whose real name is RaaShaun Casey, has not been charged with wrongdoing, and says that he was unaware of any fraud that Pina might have perpetrated

Pina and DJ Envy regularly teamed up for seminars on home flipping opportunities in New Jersey.

DJ Envy could not be reached for comment, but previously denied any knowledge of the fraud, saying on his radio show: ‘Now the reasons why I did this seminars is because I wanted to uplift my community.

‘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,’ he added.

‘Now, Cesar? If he took money, I wasn’t privy to it nor did I even know. But, I do understand how people feel if they did give him money, because I gave him a lot of money that I didn’t see a dollar of returned. But for anybody to say I was involved, that is totally not true.’

Prior to the charge against Pina, numerous alleged victims spoke out in interviews saying they had been swindled out of millions.

‘He’s advertising this all over radio and television, so I thought this was legit,’ Jose Santiago told WNBC last week, saying he thought Pina would help him achieve the American dream.

‘We invested $200,000 and it looks like we won’t ever get it back.’

‘Plain and simple, the defendant ran a fraudulent scheme. They falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions,’ said Tammy Tomlins, Special Agent in Charge of IRS – Criminal Investigation Newark Field Office.

‘Today’s arrest highlights IRS Criminal Investigation and our law enforcement partners’ commitment to investigate and prosecute unlawful behavior.’

Pina pleaded not guilty and was released on a $1 million secured bond with electronic monitoring.

New Jersey

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