DJ Envy’s former business partner Cesar Pina was arrested on fraud charges Wednesday… but reports that federal officials raided iHeartRadio’s offices and removed electronic equipment are not true… according to federal law enforcement sources.
Envy’s attorney, Massimo D’Angelo, tells TMZ Hip Hop…the reports are yet another example of “continued sensationalism” in the media to attach his client’s name to this story…even though insists that Envy is one of the victims, not the author of the alleged fraud.
Law enforcement sources tell us the same, and one source, iHeartMedia, also confirmed to us that no equipment was removed from the building.
We were told that the New Jersey Division of the Drug Enforcement Administration and the FBI were involved in the investigation of the case and that officials were at the offices to alert Envy that Pina had been arrested.
Pina was charged with one count of wire fraud… and pleaded not guilty before being released on $1 million bail.
He is not allowed to leave the state and is restricted to electronic monitoring.
Envy has not been charged with any crime and has steadfastly maintained his innocence…claiming that he lost $500,000 of his own money in the deals.
