DJ Envy, popularly known for his radio show “The Breakfast Club,” has finally addressed the allegations of being involved in a Ponzi scheme. On the show, Envy denied any wrongdoing in relation to the real estate venture he took part in with Cesar Piña. Despite the advice from his legal counsel, Envy chose to use his platform to defend his name.
Key Takeaway
DJ Envy vehemently denies any involvement in a Ponzi scheme related to a real estate venture. He claims to have participated in the venture with the intention of assisting first-time homeowners in his community.
Envy clarified that his intention with the real estate venture was to assist first-time homeowners in his community, aiming to prevent them from facing the same struggles he did. He admitted to conducting seminars to provide information to potential buyers. However, Envy claims he had no knowledge of Piña’s actions regarding the money clients gave him. Furthermore, Envy revealed that he personally lost $500,000 in the deal.
The fallout from these allegations has made Envy a target in the hip hop world. Rick Ross and Funk Flex have openly ridiculed him, while internet personality Tony The Closer has also criticized him. In response, Envy and his attorney, Massimo D’Angelo, have decided to file a defamation lawsuit against Tony.
While the majority of lawsuits have been filed against Cesar and Jennifer Piña, Envy has been named as a secondary defendant. Envy’s attorney argues that this inclusion is merely an attempt to sensationalize Envy’s celebrity status.
Several alleged victims interviewed by NBC 4 New York mentioned that they felt comfortable doing business with Piña due to Envy’s endorsement. Piña’s wife declined to comment, stating that her husband is the only one who knows where the money has gone.
