*A federal grand jury has indicted Cesar Humberto Pina, a 47-year-old Franklin Lakes, New Jersey, real estate investor known as “Flipping NJ,” on charges of orchestrating a multimillion-dollar Ponzi-like scheme, laundering drug proceeds, and bribing a Paterson official.
The charges include two counts of wire fraud, one count of money laundering conspiracy, two counts of money laundering, and one count of bribery involving federal funds. Pina’s court appearance is pending.
“Cesar Pina is alleged to have misappropriated millions of dollars of peoples’ hard-earned money, laundered money for narcotics traffickers, and bribed a politician in furtherance of real estate projects,” said U.S. Attorney Alina Habba, per the news release. She emphasized the scheme’s harm to investors, its role in facilitating drug trafficking, and its erosion of public trust.
Pina, leveraging his social media fame, partnered with a celebrity DJ, DJ Envy, to host real estate seminars nationwide. Starting in 2017, he solicited investments for property purchases, promising 30% or higher returns within months. Instead, he misused funds, paying earlier investors with new contributions and spending on personal and unauthorized expenses, defrauding dozens of investors.
“Rather than utilize his social media presence for the betterment of society, Mr. Humberto Pina chose to use it to expand his criminal activities,” said DEA Special Agent in Charge Cheryl Ortiz. Pina also allegedly conspired to launder drug proceeds and handled funds represented as drug money in a sting operation.
Source: New Jersey Real Estate Influencer Indicted for Multimillion-Dollar Fraud and Bribery Scheme
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