'Flipping NJ' Real Estate Influencer Laundered Drug Money, Bribed Politician: Feds

BERGEN COUNTY, NJ — A real estate investor and influencer who uses the handle "Flipping NJ" has been indicted for committing a multimillion dollar investment fraud scheme, bribing a Paterson politician, and laundering money for drug trafficking, prosecutors said Thursday.

Cesar Humberto Pina, 47, of Franklin Lakes, was indicted by a federal grand jury Monday and charged with two counts of wire fraud, a count of money laundering conspiracy, two counts of money laundering, and one count of bribery concerning programs receiving federal funds, said the U.S. Attorney's Office in Newark.

“Cesar Pina is alleged to have misappropriated millions of dollars of people's hard-earned money, laundered money for narcotics traffickers, and bribed a politician in furtherance of real estate projects," said U.S. Attorney Alina Habba on Thursday.

Pina's Instagram page, Flipping_NJ, describes him as "Real Estate Investor & Developer #1 Bestselling Author." The page had 287,000 followers, but has been taken down.

Pina’s wife, Jennifer Iturralde Pena, 43, of Franklin Lakes, was indicted for destroying evidence last week, prosecutors announced last Thursday.

Prosecutors allege that Pina bribed a Paterson official between 2019 and 2022 to influence the Zoning Board so he could redevelop a former school building.

“Leveraging his social media prominence, it is alleged Cesar Pina provided services for narcotics traffickers, bribed a government official, and defrauded unsuspecting investors out of millions of dollars, all for personal gain,” stated IRS Special Agent in Charge Jenifer L. Piovesan.

Pina's attorney, Gerald Krovatin of Newark, said Thursday, "Mr. Pina looks forward to his day in court to deny and vigorously defend each and every allegation in this Indictment."

Partnered With Disc Jockey

According to prosecutors, Pina partnered with a celebrity disc jockey and radio personality to conduct real estate seminars around the country. Through these seminars, he developed a significant social media following.

Then, prosecutors say, starting around 2017, he accepted investments from investors for the purchase, redevelopment, and sale of real estate in New Jersey and other states.

To induce investors, Pina often promised 30 percent or higher returns on investments within 4 to 5 months, prosecutors say.

But instead of using investors’ funds as promised, he misappropriated their money, paying off prior investors in what prosecutors call a "Ponzi-like scheme and spending investor funds on unauthorized business and personal expenditures."

Pina also conspired to launder illicit funds, including from the sale of controlled substances, for people he knew were engaged in criminal activities, prosecutors said.

Bribed Paterson Politician

Prosecutors said, "In addition, Pina bribed a local official of Paterson, New Jersey in connection with real estate-related projects in Paterson. For example, Pina provided cash and other bribes to the official in exchange for official action, assistance, and influence in connection with Pina’s 'Old School 5' development project, which had pending applications before the Paterson Zoning Board of Adjustment."

The indictment refers to the political official only as "Individual 2" and says that between 2019 and 2022, Pina offered bribes of $5,000 and more.

The indictment says the intent was for the official to influence members of the Zoning Board and others regarding variances for the redevelopment of the school on Totowa Avenue, which Pina owned.

The charges of wire fraud each carry a maximum penalty of 20 years in prison and a fine of $250,000. The charges of money laundering conspiracy and money laundering each carry a maximum penalty of 20 years in prison and a fine of $500,000. The charge of bribery concerning programs receiving federal funds carries a maximum penalty of ten years in prison and a fine of $250,000, prosecutors said.

Pina has not yet gone to court to enter a plea, and a date has not yet been set, prosecutors said.