Syndicated Radio Rapper DJ Envy Is Accused Of Swindling Investors Out Of Millions Of Dollars
Pissed off investors are accusing popular radio rapper DJ Envy aka Rasshaun Casey for operating a real estate scam.
Envy has often promoted the real estate venture of his pal, Cesar Pina on his nationally syndicated iHeartRadio show. However, investors say it was more than just a passing endorsement.
DJ Envy often tells his listeners on his radio show:
Envy and Cesar teamed up for seminars. One of those seminars also included pitching opportunities to flip properties in distressed areas of New Jersey.
Jose Santiago and his wife believed investing in a real estate venture would be their ticket to the American dream.
His wife, Jessica Ortiz told the media:
The couple says they connected with entrepreneur Cesar after seeing him on social media with DJ Envy.
Santiago also told the media:
Radio Rapper DJ Envy And Pal Had People Invest In Homes The Pair Didn’t Own
DJ Envy and Cesar had a simple pitch. They pitched people into investing in run down properties that would be renovated and flipped for money. They promised a return of up to 30% of the profits.
In some cases, Cesar didn’t even own the properties. Santiago and Ortiz invested $200,000 was one of those properties. They took equity from their Florida home to finance the project. Investors said they were told profits would come within four months. However, they never saw a dime.
Cesar allegedly conned Nigel Chamblin into investing $235,000 into that same Paterson property. Cesar also allegedly conned him into investing in properties in Hawthorne and Maplewood that each required $300,000.
Chamblin also told the media:
Then there’s record producer Anthony Martini, who invested in what he thought was a promising apartment project.
Martini says he lost a $1 million that he invested because of Envy. His attorney has filed a lawsuit.
Victims Start Speaking Out
The complaint floodgates opened up when alleged victims started appearing on the social media platform of self-proclaimed real estate scam watchdog TonyTheCloser.
Dozens of lawsuits have now been filed against Cesar and his wife. Several plaintiffs have also named DJ Envy. Envy sued TonytheCloser for defamation after also going on with him live.
Envy proclaimed his innocence on a stream with Tony:
DJ Envy has also retained powerful Manhattan real estate attorney Massimo D’Angelo. D’Angelo says the radio personality lost half a million dollars to Pinas in an investment deal. The deal was to transform a vacant school building in Paterson into rental units.
D’Angelo says Envy is a victim just like the other alleged victims.
Questioned why the DJ does not use his radio show to warn others victims, his attorney cites “ongoing litigation.” The attorney is seeking dismissals of all lawsuits.
Meanwhile, Jennifer Pina insists the money is coming.
There is some hope for investors who bought into properties in Paterson. A federal judge has appointed a bankruptcy trustee to oversee some of the Pinas’ companies.