DJ Envy‘s ex-business partner Cesar Pina was arrested on fraud charges Wednesday … but reports that federal officials raided the iHeartRadio offices and removed electronic equipment are not true … this according to federal law enforcement sources.
Envy’s lawyer Massimo D’Angelo tells TMZ Hip Hop … the reports are yet another example of the “continued sensationalization” in the media to attach his client’s name to this story … even though he insists Envy is one of the victims, not a perpetrator, of the alleged fraud.
Law enforcement sources tell us the same, and a source iHeartMedia also confirmed to us that no equipment was removed from the building.
We’re told the New Jersey Division of the Drug Enforcement Administration and the FBI all had a part in investigating the case and officials were at the offices to alert Envy that Pina had been arrested.
New Jersey Real Estate Investor and Online Influencer Charged with Multimillion-Dollar Investment Fraud Scheme https://t.co/oBYIe5ixDg pic.twitter.com/FBZ72VZiuv
— US Attorney Sellinger (@USAttySellinger) October 18, 2023
@USAttySellinger
Pina was charged with one count of wire fraud … and pleaded not guilty before being released on a $1 million bond.
He’s not allowed to leave the state and is restricted to electronic monitoring.
Envy has not been charged with any crimes and has steadfastly maintained his innocence … claiming he lost $500k of his own money in the deals.