A New Jersey real estate investor and influencer was arrested today for committing a multimillion-dollar Ponzi-like investment fraud scheme, U.S. Attorney Philip R. Sellinger announced.

Cesar Humberto Pina, 45, of Franklin Lakes, New Jersey, is charged by complaint with one count of wire fraud. He appear before U.S. Magistrate Judge Edward S. Kiel in Newark federal court and was release on $1 million secured bond with electronic monitoring. 

“As alleged in the complaint, Pina exploited celebrity status and social media to develop a devoted following of potential victims. Promising returns that were too good to be true, Pina allegedly defrauded dozens of people of millions of dollars. Our office is committed to protecting the public from these schemes and prosecuting those who lie to investors for their own personal gain.” - The U.S. Attorney Philip R. Sellinger said.

According to documents filed in this case and statements made in court:

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.

Starting in 2017, Pina began accepting investments from victim investors for the alleged purchase, remodel, and sale of specific real estate projects in New Jersey and other states. To induce his victims, Pina often promised 20 to 45 percent returns on investment within five months. But instead of using victims’ investments as promised, Pina engaged in a Ponzi-like scheme by commingling victim money, using new victim investments to pay off prior victims, and spending victim funds on personal expenditures. The investigation has revealed that Pina defrauded dozens of investors of millions of dollars.

The charge of wire fraud carries a maximum penalty of 20 years in prison and a fine of $250,000, or twice the gross amount of any pecuniary gain that any persons derived from the offense or of any pecuniary loss sustained by any victims of the offense, whichever is greatest.

The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.