DJ Envy’s scandal shows the darker side of rap hustle

thefader.com:

The rap game is built on hustle. Sometimes that hustle is just hard work and sweat equity, but the industry’s emphasis on making money at any cost can sometimes make it a target for shadier operators.

The latest main character caught up in questionable financial endeavors is The Breakfast Club’s DJ Envy, who has been the subject of countless jokes on Twitter and Joe Budden podcast episodes since last month’s arrest of one of his associates.

On October 18th, the New Jersey district of the U.S. Attorney’s Office announced that it had charged real estate investor and influencer Cesar Pina with “committing a multimillion-dollar Ponzi-like investment fraud scheme.” In their breakdown of the case, the attorney’s office explains that Pina “partnered with a celebrity disc jockey and radio personality to conduct real estate seminars around the country.

Through these seminars, self-promotional efforts, and other marketing strategies, Pina developed a significant social media following.” Pina courted money from investors, which he claimed would be used for “the alleged purchase, remodel, and sale of specific real estate projects in New Jersey,” promising a generous and fast rate of return.