DJ Envy's ex-business partner Cesar Pina was arrested on fraud charges Wednesday ... but reports that federal officials raided the iHeartRadio offices and removed electronic equipment are not true ... this according to federal law enforcement sources.
Envy's lawyer Massimo D'Angelo tells TMZ Hip Hop ... the reports are yet another example of the "continued sensationalization" in the media to attach his client's name to this story ... even though he insists Envy is one of the victims, not a perpetrator, of the alleged fraud.
Law enforcement sources tell us the same, and a source iHeartMedia also confirmed to us that no equipment was removed from the building.
We're told the New Jersey Division of the Drug Enforcement Administration and the FBI all had a part in investigating the case and officials were at the offices to alert Envy that Pina had been arrested.
New Jersey Real Estate Investor and Online Influencer Charged with Multimillion-Dollar Investment Fraud Scheme https://t.co/oBYIe5ixDg pic.twitter.com/FBZ72VZiuv
— US Attorney Sellinger (@USAttySellinger) October 18, 2023
Pina was charged with one count of wire fraud ... and pleaded not guilty before being released on a $1 million bond.
He's not allowed to leave the state and is restricted to electronic monitoring.
Envy has not been charged with any crimes and has steadfastly maintained his innocence ... claiming he lost $500k of his own money in the deals.