Cesar Pina Pleads Not Guilty To Bribery, Fraud, And Other Charges Brought About By Alleged Ponzi Scheme
AllHipHop reported that federal prosecutors laid out all of his charges this Tuesday (July 15). He has been accused of wire fraud, money laundering conspiracy, and bribery, all tied to federally funded programs. The U.S. Attorney's Office stated that he allegedly promised high returns to federal investors and used their money to pay off earlier investors and pocketed the rest.
'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,' U.S. Attorney Alina Habba said. 'This multi-year torrent of criminal activity hurt investors around the United States, facilitated the scourge of narcotics trafficking, and undermined confidence in our public officials.' The aforementioned politician resided in his home state, New Jersey.
Pina allegedly began this underhanded operation in 2017, procuring money by presenting himself as a real estate 'flipper' for residential properties in NJ and elsewhere. He went on to start a company called 'Flipping NJ,' and even convinced a Paterson, NJ, city official to greenlight 'Old School 5,' a real estate project that broadened his alleged illegal ventures.
'Rather than utilize his social media presence for the betterment of society, Mr. Humberto Pina chose to use it to expand his criminal activities,' DEA New Jersey Special Agent in Charge Cheryl Ortiz stated. 'His actions, along with his willingness to launder money from drugs proceeds, is no different than those individuals flooding our streets with illicit and diverted narcotics.'
This indictment sets Pina on the path to potential jail time and having to fork over cash. Each wire fraud count could land him up to 20 years in prison and a $250,000 fine. The money laundering charges have the same potential prison time, but the fines are steeper at $500,000. The bribery charges are a bit lighter, at 10 years in prison and a $250,000 fine.
More from VIBE.com
Cesar Pina, DJ Envy's Former Business Partner, May Take Plea Deal In Real Estate Fraud Case
Killer Mike Says He "Never Endorsed" Alleged Fraudster Cesar Pina After Video Of Them Together Surfaces
Cesar Pina Claims DJ Envy Is Innocent Amid Real Estate Fraud Case
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