‘Breakfast Club’ host DJ Envy is being sued for alleged investment fraud – Gist It

‘Breakfast Club’ host DJ Envy is being sued for alleged investment fraud

‘Breakfast Club’ radio personality, DJ Envy, faces lawsuits over alleged links to a real estate investment fraud.

The Allegations: DJ Envy is being accused of endorsing accused Ponzi scheme operator Cesar Pina, leading to victims investing in the fraudulent enterprise.
* Though DJ Envy has not been charged criminally, at least nine parties are suing him, claiming Envy’s endorsement led them to trust Pina.
* Pina was arrested earlier this month for running a multi-million dollar Ponzi scheme, dating back to 2017.

Envy’s Response: Since Pina’s arrest, DJ Envy has claimed to be a victim, having invested $500,000 in a property with Pina, which didn’t yield any returns.
* Envy’s lawyer, Massimo F. D’Angelo, emphasized that Envy himself is a victim and that he been targeted because of his celebrity status.

Possible Implications: If Pina is convicted of wire fraud, he could face 20 years in prison and a fine of $250,000.
* Many of the investors who claim to have been scammed by Pina are from disadvantaged classes or demographics, with some stating that they lost their life savings.

Next Steps: Alexander Schachtel, the attorney representing nine claimants against DJ Envy, Pina and others involved, believes that Envy must take responsibility and help victims get recompense.
* The assertion that Envy is a victim in the scheme – not a perpetrator – is seen as offensive by those suing him.

View original article on NPR

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October 28, 2023

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