A New Jersey man scammed a Muslim-American community of over $8 million. Now, the popular Instagram Influencer faces two decades behind bars.
On Nov. 2, Jebara Igbara, also known as “Jay Mazini,” pleaded guilty to one count of wire fraud, one count of wire fraud conspiracy, and one count of money laundering. The defendant was known on his Instagram page for his videos showing the Edgewater resident handing out large amounts of cash as gifts to individuals.
However, prosecutors stated Igbara was the perpetrator of a Ponzi scheme who defrauded members of a Muslim-American community in New York of $8 million by promising them a high rate of return for their investments. Others who invested Bitcoins would receive a return at above market rate. In addition, others were promised stock investments, COVID-19-related personal protective equipment (PPE) purchases, and electronics resale.
“All the victims in this case were promised something that was too good to be true. This multi-million dollar case is a reminder for anyone thinking of investing: Be skeptical of any investments with larger than life promises, because if it sounds too good to be true, it probably is,” stated IRS-CI Special Agent-in-Charge Thomas Fattorusso, according to the U.S. Department of Justice.
While trying to keep his unsuspecting investors happy, Igbara perpetrated a second scheme by posting on his Instagram and other social platforms to buy their cryptocurrencies from his followers at above market price. Meanwhile, the defendant stole their cryptocurrency by sending a doctored payment confirmation to them, even though there was no payment transaction.
Earlier this year, Igbara also pleaded guilty to kidnapping charges after the defendant abducted his online rival at knifepoint with a machete and beat him. According to Northjersey.com., Igbara had asked the victim to meet to discuss their differences over coffee. Instead, the defendant and two other accomplices stripped him naked after beating him with a cord and threatening his life. Later, Igbara was sentenced to five years.
The defendant faces 20 years in federal prison upon sentencing for the fraud charges.
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