As DJ Envy’s legal woes continue to grow, Joe Budden allegedly gave the Breakfast Club host advice regarding the real estate opportunity.
According to HipHopDX, a clip from Envy’s interview on Maino’s Kitchen Talk podcast went viral this week after the Breakfast Club host revealed the advice he received from Budden.
“I said, ‘Hey guys. I’m doing real estate. This is something that I think you should invest a little bit of money in, try it out. That way you can do it,’” Envy said. “Joe Budden told me it was a Ponzi scheme, and I was going to go to jail.”
In a separate clip, the New Jersey native spoke about the conversation during a Joe Budden Podcast episode. He recalled how the conversation sparked alarms in his mind.
“And he calls me, and starts talking about some real estate ****,” Budden started. “For me, that’s odd. We don’t speak. And now you’re calling me, telling me that your man’s with the government and he could get the buildings.
“And there’s a list and it’ll be me, you, and Queen Latifah — whatever the **** he was saying, because…I stopped listening at this point. But that just sounded fishy,” he added.
Envy’s former business partner, Caesar Pina was reportedly arrested on Wednesday, Oct. 18 by the feds. Pina was accused of defrauding over $80 million from investors. He posted on a $1 million bond, and he was released on electronic monitoring; he is also restricted from leaving the state of New Jersey.
Immediately after the arrest of Pina, the feds also stopped by the iHeart Radio office and seized electronic equipment as a part of the ongoing investigation.
The alleged ponzi scheme garnered severe backlash and the former business partners were blasted by Rick Ross, Tony “The Closer ” Robinson, FunkMaster Flex, and fans online.
Flex took to Hot 97 to blast the Power 105 radio personality during his recent show.
“I’m gonna tell you the question of the day, of the week, of the month,” he began. “Mr. Real Estate RICO, did you know that Caesar was a crook,” he asked.
“Or were you too dumb to know that he was a crook, is the question. Either way you don’t win,” he added.
The HOT 97 legend also suggested that Envy’s boss should be fired, after the feds seized electronic equipment from the iHeart Radio office.
As of now DJ Envy has not been charged with any crimes.
Be sure to check NO Jumper for more updates on this developing story continues.