The fresh new Breakfast Club’s DJ Jealousy faces legal actions over their ties to help you Cesar Pina, that implicated out of a good ‘Ponzi-like scheme’. Just how performed a radio behemoth assist things make this far?
It really doesn’t make sense
D J Jealousy are a poster youngster for cool-hop’s crossover with the mainstream. For the past three decades, new 46-year-old Queens local went from hustling rap mixtapes in order to anchoring the latest Hello America out of metropolitan broadcast – The latest Breakfast Pub, in which the guy performs the part regarding schoolmarm on “brand new world’s most hazardous morning show”. The character out-of were unsuccessful a residential property tycoon, however, nice beautiful Chandigarh girls could end up being their swan song since Envy’s own audience accuse your of perpetrating a scam plan they say bilked all of them away from hundreds of thousands.
Within the Oct, government agencies for the New jersey arrested an excellent forty-five-year-dated influencer pal off Envy’s and you may recite Morning meal Bar invitees entitled Cesar Pina having his suspected part into the a good “Ponzi-including financial support swindle system”, recharging your having wire con
Prosecutors say Pina grabbed funds from those individual backers to flip property for the Nj-new jersey, promised doing forty-five% yields inside the four days, and skimmed that cash to possess himself and very early 1st dealers.
No less than 20 lawsuits registered within the exact same go out as the federal indictment characterize Pina once the a good conman and you will an effective slumlord: they do say he solicited financing to have properties the guy failed to individual otherwise actually bother to solve up and suckered numerous some body into the using in identical bits of services, as well as if you’re pocketing bucks having his very own use or even create whole which have old investors. So-called victims even accuse him out of wanting to pay them right back from inside the bling, also labeled pieces from their sis. 50 % of the new lawsuits facing Pina and entitled Jealousy (genuine title: Raashaun Casey), blaming the brand new DJ having platforming Pina into the Breakfast Bar and you will social media. Just history month, Pina and Jealousy was basically entitled inside good $2m suit accusing them of utilizing the string regarding genuine-home meetings they hosted to each other as the “funnels to draw for the victims”, and you can alleging abuses from arranged crime law as well as the Nj User Con Operate.
The fresh new old-fashioned guess to have Pina’s so-called con stops during the $25m, however, one hardly covers the fresh broadening headcount of sufferers or Pina’s so-called side hustles: $two hundred to have summit passes, private services to own $dos,five hundred. The final contour would be regarding hundreds of millions, says Alexander Schachtel, an alternative Jersey attorney whom represents certain sufferers suing Pina and you can Jealousy.
“Jealousy and you may Pina told you inside recorded movies which they own 2,000 functions together well worth more $100m,” Schachtel states. “If that’s true, exactly why are they increasing funds from Joe Schmo the auto technician? ”
Pina, who’s got on a $1m thread and you may confronts a maximum 20-seasons sentence also a beneficial $250,000 great in the event that convicted, claims his purity. Envy hasn’t been charged with a crime plus states the guy forgotten $five-hundred,000 in the a bona fide estate deal with Pina. Your feds however detailed Pina got married which have “a hollywood disc jockey and you may broadcast identity so you’re able to run a property seminars within nation” is to worry Jealousy and his businesses. At the very least, Envy try accountable for that have Pina, an ex-scam exactly who purportedly overcome the actual house game while offering day getting charge card ripoff, on the Breakfast Club many times for the past five otherwise half dozen many years. “I authored Cesar,” Envy boasted from inside the a lately resurfaced musical video. “Cesar would not feel the lifeline or even the existence he has got instead an effective DJ Jealousy.”
“I thought they had certain vetting processes in place to make sure that this guy was legit,” claims Stanley Acosta, an effective 30-year-old retail banker off Queens just who spent $150,000 into the Pina’s real estate strategy immediately after reading your on the Break fast Pub, and that Acosta paid attention to towards the his drive to your work. “They boost others on the website constantly – doctors, solicitors, other programs – and perhaps they are every legitimate.”
