Amidst the chaos of the global pandemic, 28-year-old Jebara Igbara, hailing from New Jersey, manipulated his followers into contributing millions of dollars towards what he claimed was an Islamic investment opportunity called Hallal Capital. Igbara promised that the funds would be utilized to finance profitable ventures, such as trading shares and reselling essential medical supplies like masks. However, it has been alleged that he spent the investors’ money on luxurious cars, extravagant gambling, and a lavish lifestyle, rather than fulfilling his commitments.
“It is truly disgraceful that the defendant even preyed upon his own religious community, betraying their trust and misappropriating their hard-earned money,” commented Breon Peace, the prosecutor for the Eastern District of New York, during the trial.
Igbara would frequently upload videos showcasing himself distributing cash to fast food workers and ordinary people making purchases at Walmart, deliberately creating the illusion of immense wealth and success. This ploy was met with strong condemnation from the prosecution.
As the police began to receive multiple complaints against the blogger, the truth behind his elaborate scheme began to unravel. One victim alleged that they had transferred $100,000 worth of Bitcoins to Igbara, while another victim claimed that he had fraudulently obtained 50 Bitcoins, equivalent to $2.56 million, through a falsified bank transfer.
Aside from the prison sentence, the defendant has been ordered to reimburse his victims a total of $10 million. Meanwhile, all of Jay Mazini’s social media accounts, including his once-popular Instagram page, have been completely deleted.
In November 2022, the blogger pleaded guilty to charges of cryptocurrency fraud and conspiracy to commit money laundering. While he faced a maximum sentence of 20 years in prison, he ultimately received a seven-year term.