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Headline : Instagram influencer Jay Mazini bags 7 years in prison for $8m crypto fraud scheme targeting Muslim community 

Read more from the original article on here at technext24.com.





Tags : #instagram #influencer #jay #mazini #bags #7 #years #prison #8m #crypto #fraud #scheme #targeting #muslim #community


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An Instagram influencer, Jay Mazini has been sentenced to seven years imprisonment in New York for defrauding a network of Muslim followers to the tune of $8 million. The crime happened during the COVID-19 pandemic according to an AP report.

According to court reports, 28-year-old Jay Mazini whose real name is Jebara Igbara, pleaded guilty to fraud charges. He admitted that he created a Ponzi scheme that involved cryptocurrency fraud, raking in around $8 million. 

Jay Mazini admitted to exploiting the economic chaos of the COVID-19 pandemic to leverage connections in the Muslim community and gather investments for his company, Hallal Capital LLC. He convinced his victims that their investments would earn returns in stocks, as well as the reselling of electronics and personal protective equipment.

“Shamefully, he targeted his own religious community, taking advantage of their trust in him so he could spend and gamble their hard-earned money,” the U.S. Attorney for the Eastern District of New York, Breon Peace, said in a statement.

Read more from the original article on here at technext24.com.


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