A New Jersey real estate investor and online influencer known as 'Flipping NJ' has pleaded guilty to a multi-million dollar investment fraud scheme, laundering money for drug traffickers and bribing a New Jersey politician, U.S. Attorney Robert Frazer announced in Newark.
Source: U.S. Department of Justice, District of New Jersey
Cesar Humberto Pina, 48, of Franklin Lakes, pleaded guilty before U.S. District Judge Madeline Cox Arleo in Newark to a four-count superseding information: wire fraud, money laundering conspiracy, bribery concerning a program receiving federal funds, and Travel Act bribery. He is scheduled to be sentenced on March 10, 2027.
According to documents filed in the case and statements made in court, Pina partnered with a celebrity disc jockey and radio personality to run real estate seminars around the country and built a large social media following. Starting in at least 2017, he accepted money from individual investors for the alleged purchase, remodel and sale of specific properties in New Jersey and other states, often promising returns of 30% or higher within four to five months.
Instead of using the money as promised, prosecutors say, Pina commingled and misappropriated investors' funds, using new investor money to pay earlier investors in a Ponzi-like scheme and spending funds on unauthorized business and personal expenses. He fraudulently obtained and misappropriated millions of dollars, the Justice Department said.
Source: NJToday News summary of the U.S. Attorney's release
Pina also admitted conspiring to launder illicit funds, including proceeds from the sale of controlled substances, for people he knew were engaged in narcotics trafficking and other criminal activity, prosecutors said.
In addition, Pina admitted bribing a local official of Paterson, New Jersey, with cash and other bribes in exchange for official action and influence on his 'Old School 5' development project, which had applications pending before the Paterson Zoning Board of Adjustment.
'Cesar Pina admitted to misappropriating millions of dollars meant for real estate investments, laundering cash for narcotics traffickers, and bribing a politician in furtherance of real estate projects,' U.S. Attorney Frazer said. The wire fraud and money laundering conspiracy counts each carry a maximum of 20 years in prison; the federal-funds bribery count carries up to 10 years and the Travel Act bribery count up to five years, the Justice Department said.