Jay Mazini, 27, is an Instagram influencer from New Jersey. He is known for leading a life of luxury and giving cash gifts to strangers. But the Edgewater resident was recently charged with computer fraud and attempted money laundering. Here’s what happened.
Jay Mazini pleads guilty to Ponzi fraud, developed on Instagram
According to a note from the Department of Justice, Instagram influencer Jay Mazini was accused computer fraud and conspiracy to launder money. Real name Jebara Igbara, the influencer created fraudulent schemes in relation to cryptocurrencies. In fact, in early 2021, he used his popularity to ask his followers to send him bitcoin (BTC) that he would buy at prices 3.5% to 5% above the market. She justified it with the fact that the exchanges were limiting her BTC supply.
Once he received the cryptocurrencies, he would send fake bank transfer evidence to his victims. He is estimated to have amassed nearly $ 3 million through this crypto fraud. The FBI has it quit just over a year ago.
On Wednesday, the defendant pleaded guilty to all counts in a Brooklyn court. Now the Instagram influencer has to pay several million dollars to compensate all its victims. He faces up to 20 years in prison.
Note that the Instagram influencer is not his first crime. At the moment, in fact, he is in detention for having also perpetrated a kidnapping in March 2021. It was one of his victims who threatened to file a complaint against him and tarnish his image. She kidnapped the man, stripped him naked, beat him and threatened him with a machete.
Creation of a halal product to defraud Muslim investors
Investigators found that the social media star ran several crypto fraud schemes. Mazini used her influence to attract members of a Muslim community to invest in her company, Halal Capital. It was during the pandemic. She convinced investors to invest their money in the purchase of bulk disinfectants, electronic devices and medical masks. The retail resale of these products is expected to generate profits that would accumulate for investors.
Through this venture, they defrauded at least $ 8 million. He used these funds in luxury item purchases and gambling.
Jay Mazini became known through videos of himself that he posted to show his gifts to strangers. He offered wads of cash to fast food employees and Walmart customers. But this money was the fruit of combined which he led by scamming people via cryptocurrencies. He faces up to 20 years in prison.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.