Crypto Con Man Jay Mazini Sentenced to 84 Months for $8M Scam

Jebara Igbara, also known as "Jay Mazini," a notorious Instagram influencer, was sentenced to 84 months in prison for perpetrating overlapping fraud schemes that resulted in millions of dollars in loss to trusting investors.

According to the United States Department of Justice, Igbara pleaded guilty to wire fraud, wire fraud conspiracy, and money laundering in November 2022. He was found to have scammed investors out of at least $8 million.

Igbara maintained a popular Instagram account under the name "Jay Mazini," where he would post videos depicting him handing out large amounts of cash to various individuals as gifts. In reality, he was perpetrating overlapping fraud schemes, scamming investors out of millions of dollars.

As part of his sentence, Igbara was ordered to pay $10 million in forfeiture. The amount of restitution will be determined at a later date. Igbara’s sentence is a result of a joint investigation by the FBI and IRS-CI.

"The prosecution of Igbara unmasked him as a fraudster who used his social media popularity to con investors out of millions of dollars," stated United States Attorney Breon Peace. "Shamefully, he targeted his own religious community, taking advantage of their trust in him so he could spend and gamble their hard-earned money."

Igbara’s scheme involved creating a fake online presence to purport that he was a wealthy crypto investor, using his Instagram persona as proof of success when convincing his unsuspecting victims to invest in his schemes. He conned a New York Muslim community out of millions, spending the money on luxury vehicles and gambling.

IRS-CI Special Agent-in-Charge Thomas M. Fattorusso stated, "Igbara was a crypto con man. He not only created a fake online presence, he used his Instagram persona as proof of success when convincing his unsuspecting victims to invest in his schemes."

Igbara’s sentence is a reminder that those who use social media to scam and deceive others will be held accountable for their actions.