The popular Instagram influencer Jebara Igbara, also known as “Jay Manzini,” pleaded guilty to money laundering, wire fraud, and wire fraud conspiracy. He used the social media platform to promote various schemes to investors but, in fact, defrauded them with $8 million.
In addition, Igbara told his followers he wanted to buy a huge amount of bitcoin and that authorized exchanges would not allow him to accumulate such a stash. He urged Instagram users to send him BTC, assuring he will pay premium prices for those transactions. Needless to say, he pocketed approximately $2.5 million worth of the primary cryptocurrency from the lured individuals.
Prison Time for the Criminal
The US Department of Justice announced that the so-called Instagram influencer “Jay Manzini” will face up to 20 years in federal prison for his offenses.
He admitted using his fame on the social media platform to popularize investment products to his followers, mainly part of the New York Muslim community. The scams resulted in at least $8 million drained from conned individuals.
“With today’s plea, the defendant has admitted leveraging his Instagram popularity to prey upon innocent investors and steal at least $8 million of their hard-earned money. Together with our agency partners, this Office is committed to bringing scammers to justice,” the statement reads.
Additionally, “Jay Manzini” ran a multi-million bitcoin Ponzi scheme. He posted ads on his Instagram…
