Instagram Scammer Jay Mazini Pleads Responsible to $2.5 Million Bitcoin Theft

Instagram Influencer Jay Mazini has pled responsible to stealing $2.5 million in Bitcoin from his victims in certainly one of a number of giveaway scams. 

The influencer – whose official title is Jebara Igbara – faces as much as 20 years in jail for his crimes. 

  • Because the Division of Justice (DOJ) announced on Wednesday, Mazini has particularly pled responsible to wire fraud, wire fraud conspiracy and cash laundering.
  • Mazini was identified for social media stunts that included freely giving massive quantities of money to strangers as presents in varied places. Considered one of his popular stunts concerned handing out $30,000 at a Burger King in New York, alongside well-known rapper 50-cent. 
  • “In reality, Igbara was perpetrating overlapping fraud schemes, scamming investors out of at least $8 million,” stated the DOJ.

  • Mazini’s Bitcoin scheme concerned promising to purchase Bitcoin from his Instagram followers at above-market charges. After his followers would ship him Bitcoin, the influencer despatched them doctored pictures of wire switch confirmations of returned funds. Nevertheless, the sellers by no means truly acquired the cash.
  • Mazini would justify his higher-rate purchases by claiming he’d been barred by exchanges from buying extra Bitcoin. 
  • “All the victims, in this case, were promised something that was too good to be true,” stated IRS-CI Particular Agent-in-Cost, Thomas Fattorusso. “Be skeptical of any investments with larger-than-life promises, because if it sounds too good to be true, it probably is.”

  • One of many largest on-line voices to reveal Mazini final yr was Coffeezilla – a YouTuber standard for investigating crypto-related hacks and scams. 



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