Source: Johnny Nunez / Getty / DJ Envy
Moooooorrnnnninnngg everybody,
D J Envy could be in some serious trouble.
The co-host of the popular Power 105.1’s morning show,
The Breakfast Club, is linked to a New Jersey real estate venture that many investors call a scam that has left them out of millions, local affiliate
News 4 NY’s I-Team reports.
When he is not setting off the beige rage meter, Envy is very vocal about his real estate ventures with his buddy, Cesar Pina, plus his wife, Jennifer, and often promotes them during the show.
“We’ve helped so many people, not just regular people, but celebrities, athletes, executives,” the radio host said on The Breakfast Club.
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On top of mentioning the venture on the nationally syndicated radio show, Envy also linked up with Pina for seminars and at the convention center, where they were pitching opportunities to flip properties mainly located in “distressed areas,” aka the hood, News 4 New York reports.
The news outlet also shared numerous accounts from investors who now feel like they were hoodwinked and bamboozled after being lured into the alleged scam after hearing about it from DJ Envy.
Per News 4:
Jose Santiago and his wife, Jessica Ortiz, say they believed investing in a real estate venture in a Paterson neighborhood would be their ticket to the American dream.
“That’s the reason I got into real estate, so we can actually start flipping properties, buying properties so we can have something for our kids in the future,” Ortiz told News 4.
The couple says they connected with entrepreneur Cesar after seeing him on social media with DJ Envy.
“He’s advertising this all over radio and television, so I thought this was legit,” Santiago said. “We invested $200,000, and it looks like we won’t ever get it back.”
The pitch: to invest in run down properties that would be renovated and flipped for money. The promised return: up to 30% of the profits. In some cases, Cesar didn’t even own the properties, including the one Santiago and Ortiz took $200,000 in equity from their Florida home to finance the project. They said they were told profits would come within four months, but they never saw a dime.
“I am paying the interest right now every month, and I have nothing,” Santiago said.
Nigel Chamblin claims he was conned by Cesar into investing $235,000 into that same Paterson property, along with homes in Hawthorne and Maplewood that each required $300,000.
” There were other people investing in these exact same properties,” Chamblin told News 4.” It was a scam, it was a lie.”
But Wait, There Is More Struggle To Report
Another victim, Augie Rios, who owns a custom auto wrap and has worked on the DJ Envy’s cars for years, says he got one return on an initial investment but claims a second investment on a Patterson property flopped.
He also notes how Envy’s involvement was the only reason he got involved.
“I wouldn’t have invested in Cesar if it wasn’t for Envy,” Rios told the I-Team. “I lost a total of $64,000.”
The struggle gets worse, Rios says, after getting two bounced checks. He claims Pina came through with a box of jewelry from him to hold onto.
“He says take this jewelry until I can pay you back,” with Rios estimating the jewelry was worth up to $15,000-$20,000.
Another victim, record producer Anthony Martini, lost “a million dollars” after investing in what he thought was a “promising apartment complex.”
Like many others, he only got involved because of Envy, whom he has known for years. He is now suing.
What Does DJ Envy Have To Say?
The radio host, born Rasshaun Casey, initially opted to speak through his real estate attorney. Envy’s attorney claims his client has also lost “half a million” dealing with the Pinas.
“[Envy] is a victim, just like the other alleged victims are in connection with the scam,” Massimo D’Angelo, Envy’s attorney, said. “He is contending daily with cases that are being filed improperly against him.”
When asked why Envy doesn’t use his radio show to warn other victims, the attorney cites “ongoing litigation” as the reason.
Envy’s attorney is also pushing to have all the lawsuits against his client dismissed and is suing TonytheCloser for defamation despite showing up on his show.
TonytheCloser is a self-proclaimed real estate scam watchdog, and many of the alleged victims of the scam appeared on his show.
Envy has finally broken his silence, going against the advice of his attorneys.
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Social media is reacting to the news of DJ Envy possibly being a scammer.
You can see those reactions in the gallery below.
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Photo: Johnny Nunez / Getty
