Jebara Igbara, AKA 'Jay Mazini,' Sentenced to 7 Years in Prison for Crypto-Related Fraud
Summary
Jabara Igbara, known as “Jay Mazini,” was sentenced to seven years in prison on charges of wire fraud and money laundering. The U.S. District Judge also ordered Igbara to forfeit $10 million. Igbara, who claimed to be a crypto millionaire on Instagram, scammed investors of at least $8 million through multiple fraud schemes. He ran a Ponzi scheme through a company called Halal-Capital LLC, targeting Muslims. He falsely offered above-market prices for cryptocurrencies and sent fake images of wire-transfer confirmations. He pleaded guilty to the charges in November 2022.
