Joe Budden warned “Breakfast Club” co-host DJ Envy that he might go to jail two years before his business partner, Cesar Pina (right) was arrested by the feds.
Pina was arrested on Oct. 18 by federal agents in New Jersey, and charged with wire fraud for scamming real estate investors out of millions of dollars.
In October 2021, Envy appeared on an episode of the Kitchen Talk podcast co-hosted by rapper Maino. Envy said he learned all about real estate flipping from Pina. “Cesar was locked up and he learned how to do real estate in prison,” Envy told Maino.
Envy said Pina told him not to use his own money to invest in flipping houses. So Envy called up three friends — DJ Clue, Fabolous and Joe Budden.
All three declined to give him their money to invest in flipping properties. But Budden went a step further by warning Envy that the deal sounded like a Ponzi scheme and that Envy could end up in jail.
Budden recalled the conversation with Envy during the June 1 episode of his own “Joe Budden Podcast.”
Budden said the project “just sounded fishy.”
In 2021, Envy told Maino about a school that he and Pina planned to convert into apartments. He said the finished project would net him around $70,000 a month profit for life.
The abandoned school is now at the center of a dispute between Envy and Pina. Envy claims he never saw a return on the $500,000 he gave Pina to renovate the school. According to reports, Pina and Envy do not own the school.
Watch the video below.
