Franklin Lakes Real Estate Mogul Faces Multimillion-Dollar Fraud Charges Alongside Social Media Influencer

Cesar Humberto Pina, a local social media influencer and real estate investor, is charged with wire fraud in a Ponzi-like scheme that duped dozens of investors.

Morristown, NJ — A New Jersey real estate investor and online personality, Cesar Humberto Pina, 45, of Franklin Lakes, was arrested on charges of running a multimillion-dollar Ponzi-like investment fraud scheme, as announced by U.S. Attorney Philip R. Sellinger.

The Main Points

Who: Cesar Humberto Pina, a 45-year-old resident of Franklin Lakes, New Jersey.
What: Charged with one count of wire fraud related to an investment fraud scheme.
When: Arrested today and appeared in Newark federal court.
Where: Released on a $1 million secured bond with electronic monitoring, following his appearance before U.S. Magistrate Judge Edward S. Kiel.
Why: Pina is accused of exploiting his celebrity status to defraud dozens of investors of millions of dollars through false promises.
How: Utilized social media and celebrity partnerships to attract and deceive investors.

The Scheme

Starting in 2017, Pina leveraged his substantial social media following and a partnership with a well-known disc jockey to conduct real estate seminars across the United States. He allegedly promised exorbitant returns on investments, ranging from 20 to 45 percent within a span of five months.

"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," said U.S. Attorney Philip R. Sellinger.

Tammy Tomlins, Special Agent in Charge of IRS – Criminal Investigation Newark Field Office, elaborated, “Plain and simple, the defendant ran a fraudulent scheme. They falsely represented the nature of their business and lied about potential investment returns to bilk unsuspecting victims out of millions."

Law Enforcement Collaboration

The arrest came as a result of an extensive investigation led by multiple federal agencies, including the FBI, IRS, and U.S. Attorney’s Office for the District of New Jersey.

"We allege Pina offered a ridiculously high rate of return to investors, then took the millions he got and invested it in himself,” stated FBI – Newark Special Agent in Charge James E. Dennehy.

Pina faces a maximum penalty of 20 years in prison and a fine that could exceed $250,000 if convicted.

It should be noted that the charges and allegations are currently accusations, and Cesar Humberto Pina is presumed innocent until proven guilty in a court of law.

For Morris County residents, this case serves as a cautionary tale about the risks associated with celebrity-endorsed investment opportunities, reminding the public to exercise due diligence before investing their hard-earned money.