Cesar Pina used his real estate seminars and social media clout to allegedly orchestrate a nationwide fraud and money laundering scheme that netted millions and included bribing a New Jersey official, federal prosecutors announced Tuesday (July 15).
The New Jersey real estate promoter, known online as “Flipping NJ,” was indicted by a federal grand jury on six criminal counts, including wire fraud, money laundering conspiracy and bribery tied to federally funded programs. According to the U.S. Attorney’s Office, Pina allegedly promised high returns to investors, then used their money to pay off earlier investors and fund personal expenses.
“Cesar Pina is alleged to have misappropriated millions of dollars of peoples’ hard-earned money, laundered money for narcotics traffickers, and bribed a politician in furtherance of real estate projects,” U.S. Attorney Alina Habba said. “This multi-year torrent of criminal activity hurt investors around the United States, facilitated the scourge of narcotics trafficking, and undermined confidence in our public officials.”
The indictment accuses Pina of running a Ponzi-style investment scam starting in 2017, soliciting funds under the guise of flipping residential properties in New Jersey and beyond. He allegedly promised returns of 30 percent or more within months, but instead used new investor money to repay earlier backers and cover unauthorized business and personal costs.
Federal agents say Pina also laundered drug money and took part in a sting operation where he allegedly cleaned funds that were represented as narcotics proceeds. He’s further accused of bribing a Paterson city official to push forward a real estate project called “Old School 5,” which was under review by the city’s zoning board.
“Rather than utilize his social media presence for the betterment of society, Mr. Humberto Pina chose to use it to expand his criminal activities,” DEA New Jersey Special Agent in Charge Cheryl Ortiz said. “His actions, along with his willingness to launder money from drugs proceeds, is no different than those individuals flooding our streets with illicit and diverted narcotics.”
The charges carry steep penalties. Each wire fraud count could lead to up to 20 years in prison and a $250,000 fine. The money laundering charges carry the same prison term but with fines up to $500,000. The bribery charge could result in 10 years behind bars and a $250,000 fine.
“Under the guise of being an entrepreneur with his clients’ best interests at heart, Cesar Pina allegedly defrauded dozens of investors of millions of dollars,” FBI Special Agent in Charge Stefanie Roddy said. “His alleged actions didn’t stop at fraud but involved bribery, money laundering, and conspiring to launder illicit funds from the sale of drugs.”
The investigation was led by the U.S. Attorney’s Office for the District of New Jersey, the DEA, the FBI, the IRS Criminal Investigation Division and the U.S. Postal Inspection Service. The Franklin Lakes Police Department also assisted. The case is part of an Organized Crime Drug Enforcement Task Force operation.
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