Crypto Ponzi Scam: Influencer Jay Mazini sentenced to 7 years in prison for swindling $8 million from Muslims

  • Posted By: Studio
  • Tech
  • Updated: 23 May, 2024 02:09
  • 416

The former Instagram influencer known as “ Jay Mazini " who swindled millions of dollars from online followers and a network of Muslims during the pandemic was sentenced to seven years in prison on Wednesday, prosecutors said.Jebara Igbara, 28, of New Jersey, had pleaded guilty to fraud charges, admitting that he created a Ponzi scheme that involved cryptocurrency frauds netting around $8 million. Prosecutors say the money funded a decadent lifestyle that included luxury cars and a lot of gambling.5.2 crore gone in a click: Man conned by online fraudsters via WhatsApp

Exploiting the economic chaos of the COVID-19 pandemic, Igbara leveraged connections in the Muslim community to gather investments for his firm Hallal Capital LLC, saying it would earn returns on stocks, and the reselling of electronics and personal protective equipment.

Comments

Leave A Comment

Your email address will not be published. Required fields are marked *