Cesar Pina has pleaded guilty to a multimillion-dollar real estate fraud scheme that took investors’ money while he laundered drug proceeds and paid bribes to a New Jersey official.
The 48-year-old Franklin Lakes resident entered his plea October 22 before U.S. District Judge Madeline Cox Arleo in Newark. His plea covered wire fraud, money laundering conspiracy and two bribery offenses, according to the U.S. Attorney’s Office.
Pina, known online as “Flipping NJ,” often promised returns of at least 30 percent within four to five months. Instead, prosecutors said, he used fresh investments to pay earlier investors and cover personal and unrelated business costs…