A New Jersey Instagram influencer known for his luxury lifestyle and cash giveaways was ordered to pay millions of dollars in restitution to victims of his money-making schemes after a guilty plea in a federal fraud case on Wednesday.
Jay Mazini, 27, an Edgewater resident whose real name is Jebara Igbara, pleaded guilty in federal court in Brooklyn to charges of wire fraud, conspiracy to commit wire fraud and money laundering in connection with a bitcoin scheme.
The social media star rose to fame posting videos of himself handing out large amounts of cash to strangers including fast-food workers and Walmart customers. He appeared with famous rappers in giveaway videos, including 50 Cent and Fabolous. In reality, Mazini was running multiple fraud schemes, scamming investors out of at least $8 million, federal investigators said.
Mazini, who faces up to 20 years in prison on the fraud charges, is currently detained at the Passaic County Jail in connection with a brutal kidnapping last year.
In March 2021, federal investigators accused Mazini of using his influence to dupe followers into selling him bitcoin as well as to defraud investors of his company Halal Capital.
In court, he admitted to defrauding members of a Muslim American community in New York, enticing them with promises of profitable “halal” investment. Halal means permissible under Islamic teaching. He told investors he would purchase items such as hand sanitizer, electronic devices and medical masks in bulk…
