Earlier at present, Jebara Igbara, also called “Jay Mazini,” pleaded responsible in federal courtroom in Brooklyn to a 3 rely info charging him with wire fraud, wire fraud conspiracy and cash laundering. As set forth within the info, up until March 2021, Igbara maintained a preferred Instagram account underneath the identify “Jay Mazini,” the place he would put up movies depicting, amongst different issues, events throughout which he would hand out giant quantities of money to varied people as items. In actuality, Igbara was perpetrating overlapping fraud schemes, scamming buyers out of not less than $8 million.
Breon Peace, United States Legal professional for the Japanese District of New York, Michael J. Driscoll, Assistant Director-in-Cost, Federal Bureau of Investigation, New York Discipline Workplace (FBI), and Thomas Fattorusso, Particular Agent-in-Cost, Inside Income Service Felony Investigation, New York (IRS-CI) introduced the responsible plea.
“With at present’s plea, the defendant has admitted to leveraging his Instagram reputation to prey upon harmless buyers and steal not less than $8 million of their hard-earned cash,” said United States Legal professional Peace. “Along with our company companions, this Workplace is dedicated to bringing scammers to justice.”
“As he admitted at present, Igbara intentionally operated a number of scams to cheat a mess of buyers out of their cash. The FBI and our regulation enforcement companions are dedicated to stopping fraudsters of every kind and holding them accountable within the legal justice system,” said FBI Assistant Director-in-Cost Driscoll.
“All of the victims on this case have been promised one thing that was too good to be true. These within the Ponzi scheme have been all assured a excessive charge of return in a brief period of time, whereas the victims of the Bitcoin advance price scheme have been assured above present market worth for his or her Bitcoin. This multi-million greenback case is a reminder for anybody considering of investing: Be skeptical of any investments with bigger than life guarantees, as a result of if it sounds too good to be true, it most likely is,” said IRS-CI Particular Agent-in-Cost Fattorusso.
As detailed within the info, Igbara is charged with perpetrating a scheme to defraud members of the Muslim-American group in New York by soliciting their cash for purported investments in inventory, electronics resale, and purchases of COVID-19 associated private protecting gear (PPE). In actuality, Igbara was working a Ponzi scheme, and misappropriated almost the entire cash for his private bills and playing.
To lift cash as a way to pay his buyers “returns,” and hold them on the hook, Igbara additionally perpetrated a second fraudulent scheme, whereby he posted on his Instagram and different social media accounts that he was prepared to pay above-market costs for varied cryptocurrencies. He would then ship his victims doctored photographs of wire switch confirmations that purported to indicate he had despatched cash for the cryptocurrency as promised, when in actuality, the fee was by no means despatched, and Igbara was merely stealing the cryptocurrency despatched by his sufferer.
When sentenced, Igbara faces as much as 20 years’ imprisonment.
The federal government’s case is being dealt with by the Workplace’s Enterprise & Securities Fraud Part. Assistant United States Legal professional Lauren Howard Elbert is answerable for the prosecution.
The Defendant:
JEBARA IGBARA (also called “Jay Mazini”)
Age: 27
Edgewater, New Jersey
E.D.N.Y. Docket No. 22-CR-424 (FB)