INSTAGRAM INFLUENCER JAY MAZINI GETS 7 YEARS FOR $8M FRAUD 

Jabara Igbara, also known as “Jay Mazini,” an Instagram personality who claimed to be a cryptocurrency millionaire, has been sentenced to seven years in prison by U.S. District Judge Frederic Block. The sentence, which includes charges of wire fraud and money laundering, also requires Igbara to forfeit $10 million.

Jay Mazini Exposed as Fraudster

The United States Attorney’s Office revealed that Igbara, 28, executed various fraudulent schemes, deceiving investors of at least $8 million. He admitted guilt to these charges in November 2022.

U.S. Attorney Breon Peace described Igbara as a charlatan who exploited his social media fame to defraud investors, particularly targeting members of his own religious community. Peace expressed hope that the sentence would serve as a deterrent to others contemplating similar fraudulent activities.

Thomas Fattorusso, IRS Criminal Investigation Special Agent-in-Charge, dubbed Igbara a “crypto con man” who used a crafted online persona to lure victims into his investment scams, especially targeting the Muslim community in New York. Fattorusso stressed that the sentencing reflects the seriousness of Igbara’s crimes, ensuring he faces substantial time behind bars.

Multiple Fraudulent Ventures by Igbara

Between 2019 and 2021, under the alias “Jay Mazini,” Igbara built up nearly one million followers on Instagram, where he portrayed himself as a successful investor and devout Muslim.

Igbara gained attention by posting videos where he handed out substantial amounts of cash in public, such as to people in grocery stores, fast-food workers, and a traveler who had lost her purse.

He operated Halal Capital LLC, through which he orchestrated a Ponzi scheme under the guise of legitimate investments in stocks, electronics resale, and personal protective equipment sales, primarily defrauding the Muslim-American community in New York. Instead of investing the funds, Igbara used them for personal expenses, luxury cars, and gambling.

To sustain the appearance of a profitable venture and keep investors engaged, Igbara launched a second fraudulent scheme. He advertised on Instagram and other platforms, offering to buy cryptocurrencies at above-market rates. After receiving the cryptocurrency from victims, Igbara issued fake wire transfer confirmations, never making any actual payments, and misappropriated the cryptocurrency for himself.

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