On Wednesday, October 18, DJ Envy's business associate, Cesar Pina, was arrested by federal agents in New Jersey for wire fraud. Pina was charged with a multimillion-dollar investment fraud scheme and was later released on a $1 million bond and electronic monitoring. After Pina's arrest, all eyes fell on DJ Envy, who often promoted Pina in his iHeartRadio show, The Breakfast Club.
Envy's role in promoting Pina was even mentioned in the US Attorney's Office press release. According to Celebrity Net Worth, RaaShaun Casey, known professionally as DJ Envy, is a Radio Hall of Fame member with an impressive net worth of $7 million.
DJ Envy is in the Radio Hall of Fame with an impressive net worth
According to Celebrity Net Worth, DJ Envy commands a net worth of $7 million, which includes his salary of $3 million. Envy has worked in multiple facets of the music industry as a producer, rapper, VJ, and DJ. However, he is most well-known for his current stint as a radio personality.
DJ Envy is the co-host of iHeart Radio's The Breakfast Club, along with fellow co-host Charlamagne Tha God. The stint, which began in 2010, catapulted Envy to massive fame and success. In 2020, Envy, Charlamagne, and former co-host Angela Yee were inducted into the Radio Hall of Fame.
Often overshadowed by his radio accomplishments, the 46-year-old Queens native has also had a fairly illustrious music career. After being signed to Desert Storm, he released his debut studio album, The Desert Storm Mixtape: Blok Party, Vo. 1. in 2003. The album had features from prominent artists like Jay-Z, DMX, 50 Cent, Redman, and Busta Rhymes. It peaked at 57 on the Billboard 200.
Envy's most recent album is 2018's Just A Kid From Queens. Envy's big break in the radio scene came when he started mixing for Hot 97's Takin' it to the Streets, which was hosted by Angie Martinez, with Envy filling in when Martinez was pregnant. This big break led to a various opportunities for Envy at Hot 97, where he eventually began mixing his own shows.
Cesar Pina's "Ponzi-like" scheme
The United States District Attorney's office announced on October 17 that Cesar Humberto Pina was arrested and charged with one count of wire fraud. US Attorney Philip R. Sellinger stated that Pina was arrested for a "multimillion-dollar Ponzi-like investment fraud scheme." He further stated:
"Pina exploited celebrity status and social media to develop a devoted following of potential victims. Promising returns that were too good to be true, Pina allegedly defrauded dozens of people of millions of dollars."
According to the statement released by the US Attorney's Office, Pina's "fraudulent scheme" started in 2017, when he accepted investments for purchasing, remodeling, and selling real estate in New Jersey and other states. He promised his investors 20-45% returns within a five months.
However, instead of doing so, he engaged in a "Ponzi-like scheme." He was accused of "commingling" money from investors and spending it on personal expenditures while using money from new victims to pay off the old ones. He is said to have defrauded "dozens of investors of millions of dollars."
Special Agent in charge of IRS – Criminal Investigation Newark Field Office, Tammy Tomlins, said in the statement:
"They (Cesar Pina) falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions."
The statement also mentioned that Pina had partnered with "a celebrity disc jockey and radio personality" to conduct seminars on real estate across the country. Although not disclosed, the "personality" referred to here is DJ Envy, who admitted to conducting seminars with Pina for the sake of uplifting the community.
DJ Envy, who has promoted Pina's real estate schemes on multiple occasions, claimed in a Breakfast Club episode that he was also a victim of Pina, as he invested $500,000 out of his own pocket only to have no dollar returned. He also claimed that he was unaware of or involved in Pina's fraudulent scheme.
Netizens have reacted to DJ Envy's side of the story, with the majority condemning him. Many are skeptical of his innocence and support him being arrested alongside Cesar Pina.