N.J. real estate influencer accused of scamming people out of millions
Cesar Humberto Piña, known for flipping houses, is accused of stealing from dozens of investors in a Ponzi-like scheme.
A real estate investor and influencer from Franklin Lakes, N.J., allegedly defrauded dozens of people out of millions of dollars in a Ponzi-like real estate investment scheme, according to a complaint from the U.S. Attorney’s Office for the District of New Jersey.
From around 2017 through May 2023, Cesar Humberto Piña accepted money from individual investors to buy, remodel, and sell homes, the complaint alleges. The document goes on to allege that Piña intentionally committed fraud by using new investors’ money to pay off past investors, and keeping some for his own expenses.
“Piña exploited celebrity status and social media to develop a devoted following of potential victims,” said U.S. Attorney Philip R. Sellinger. He also noted that Piña was allegedly “promising returns that were too good to be true.”
Piña was arrested on Wednesday and released on secured bond of $1 million. He was charged with one count of wire fraud, and could face up to 20 years in prison and a $250,000 fine if convicted.
The real estate investor, known by the handle “flipping_nj” on Instagram, has over 300,000 followers on the platform. He is featured in pictures on his website with rappers 50 Cent and Don Omar and singer Nicky Jam, who are listed as business partners and clients. Piña is also the author of a book, Flipping Keys, published in 2021, in which he explains his life story and how he built his real estate business.
Piña owned and/or controlled at least two businesses in New Jersey: Whairhouse LLC in Wayne and FromStart2Flip LLC in Totowa, which he used to purchase properties or open bank accounts. According to the complaint, Piña would buy properties and then get multiple investors to pay him for them. He allegedly failed to tell investors that many of them were paying towards one single property, and that he already had a mortgage and/or loans on those buildings. Victims cited in the complaint say they either received a small portion of their investment back or no money at all in return.
DJ Envy, a DJ and radio personality, partnered with Piña to host real estate seminars for people interested in learning about the business in the tristate area, according to Pina’s website. The pair hosted events in New York City and Atlantic City in 2021 and 2022, charging guests up to $199 to attend. At these seminars and in other public appearances, Piña presented himself as a successful investor who owned thousands of properties, according to the complaint.
Piña has talked about how he learned about the business of real estate when he was imprisoned early on in life. He said he met a real estate developer behind bars who had been working in development in Hoboken.
Piña could not immediately be reached for comment on Thursday.
On Wednesday, he posted a picture of 50 Cent on his Instagram account, with a quote from the rapper that reads, “Every negative is a positive. The bad things that happen to me, I somehow make them good. That means you can’t do anything to hurt me.”