Hi Guys,
It's Big & Big #alert About Instagram Influencer Jay Mazini !!
Instagram Influencer Jay Mazini Sentenced to 7 Years for $8 Million Fraud Scheme
Jay Mazini purported to be a crypto millionaire mainly targeting the Muslim community through Halal-Capital LLC.
Jabara Igbara, commonly known as “Jay Mazini,” who boasted of being a crypto millionaire on Instagram, has been sentenced to seven years in prison by U.S. District Judge Frederic Block.
The sentence on wire fraud and money laundering charges also mandates Igbara to forfeit $10 million.
Jay Mazini Labelled a “Crypto Con Man”
According to the United States Attorney’s Office, Igbara, 28, carried out multiple fraud schemes and scammed investors of at least $8 million. He pleaded guilty to the charges in November 2022.
United States Attorney Breon Peace stated that Igbara’s prosecution revealed him as a fraudster who used his social media popularity to con investors out of millions of dollars.
Peace added that Igbara targeted his religious community, exploiting their trust to spend and gamble their hard-earned money. The hope is that today’s sentence will deter fraudsters like Igbara from victimizing investors for personal gain, he added.
Internal Revenue Service Criminal Investigation Special Agent-in-Charge Thomas Fattorusso characterized Igbara as a “crypto con man” who created a fake online presence to convince unsuspecting victims to invest in his schemes.
Fattorusso noted that Igbara conned the New York Muslim community out of millions and subsequently spent and gambled the funds away. He emphasized that Igbara’s actions disregarded the victims of his scam, but the sentencing ensures that he will spend years in prison for his criminal acts.
