A disgraced Instagram influencer who targeted New York’s Muslim-American community with a multi-million dollar Ponzi scheme pleaded guilty Wednesday to wire fraud and money laundering charges.
A disgraced Instagram influencer pleaded guilty on Wednesday to swindling investors out of several million dollars as part of a Ponzi scheme targeting New York’s Muslim-American community.
Jebara Igbara — who ran a popular Instagram account under the name “Jay Mazini” — solicited money from Muslim New Yorkers ostensibly in return for stock, electronics and COVID-19 protective equipment, according to federal prosecutors in Brooklyn. Igbara pocketed at least $8 million in the scam – and blew all the cash on personal expenses and gambling, the feds said. to repay apparent returns he had promised his victim, by posting on his Instagram page that he would pay above market-rate sums for cryptocurrencies.
Igbara then sent his victims doctored images of wire transfers purportedly showing payment for the crypto. In reality, Igbara was stealing the currency, the feds said.Instagram/Jay MaziniThe former social media star pleaded guilty to wire fraud and money laundering charges. He faces up to 20 years in prison when he’s sentenced in the case.
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