NEWARK, N.J. — A Franklin Lakes real estate investor who promoted himself online as “Flipping NJ” pleaded guilty Thursday to running a multimillion-dollar investment fraud scheme, conspiring to launder drug money and bribing a Paterson official, the U.S. Attorney’s Office for the District of New Jersey said.
Cesar Humberto Pina, 48, entered the plea before U.S. District Judge Madeline Cox Arleo in federal court in Newark. He admitted to a four-count superseding information charging wire fraud, money laundering conspiracy, bribery concerning a program receiving federal funds and bribery under the Travel Act.
Beginning in at least 2017, Pina solicited money from individual investors for what he described as deals on specific properties in New Jersey and other states, according to documents filed in the case and statements made in court. He promised returns of 30% or more within four to five months…