Wanna be mogul Cesar Pina must stay home after 4 p.m. each day and is barred from making any real estate transactions as he awaits sentencing in a federal fraud case.
A judge imposed the new restrictions earlier this week, tightening the terms of Pina’s pretrial release as prosecutors scrutinize his financial activities.
The updated conditions mean Cesar Pina can only leave his residence between 8 a.m. and 4 p.m. unless granted special permission by pretrial services. He will also remain under electronic monitoring and location tracking.
Pina, who pleaded not guilty to wire fraud charges, is accused of orchestrating a Ponzi-like scheme that allegedly scammed investors out of tens of millions through fraudulent real estate deals.
Prosecutors say he lured victims in by promoting investment opportunities through real estate seminars alongside DJ Envy, a popular radio personality. DJ Envy has not been charged with any crimes.
Authorities claim Pina promised lucrative returns—ranging from 20% to 45% within five months—but instead used funds from new investors to pay off earlier participants, a hallmark of a classic Ponzi scheme.
His arrest in October 2023 sent shockwaves through investor circles, with numerous victims coming forward to claim they had been misled and defrauded.
As part of his modified bail terms, Pina is allowed to handle some property management duties, including rent collection, property inspections, and meetings with tenants, vendors, and contractors.
However, he cannot buy, sell, transfer, finance, or encumber any real estate. The only exception is if his wife acts independently on transactions that do not involve his direction or benefit.
Pina is also required to submit a financial disclosure statement by March 7, detailing his current assets and income, a move likely aimed at ensuring transparency as the government continues investigating his finances.
These tightened restrictions may stem from concerns over Pina’s compliance with previous bail conditions. Pina was released on a $1 million bond following his arrest.
He is currently negotiating a plea deal with federal prosecutors.
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