Instagram influencer charged over duping followers out of $2.5M BTC

An Instagram influencer has been charged with wire fraud, after he allegedly scammed followers out of $2.5 million worth of Bitcoin.

Social media influencer Jay Mazini, who boasted of a net worth of $33 million and is known for “cash giveaways”, is accused by the Department of Justice of operating a wire fraud scheme in which he duped some of his 1 million followers to send him Bitcoin in exchange for inflated cash offers, which he failed to pay properly.

The DoJ announced the charges on March 24, following a complaint filed in Brooklyn Federal Court the day before. The FBI investigation into the case is still ongoing, with FBI Assistant Director-in-Charge William F. Sweeney noting:

“Igbara’s social media persona served as a backdrop for enticing victims to sell him their Bitcoin at attractive, but inflated, values. A behind-the-scenes look, however, revealed things aren’t always as they seem. There was nothing philanthropic about the Bitcoin transactions Igbara engaged in with his victims.”

Sweeney added: “A quick search of the Interwebs today will reveal an entirely different image of this multimillion-dollar scammer.”

According to DoJ documents, theTitle: Instagram influencer charged over duping followers out of $2.5M BTC
Sourced From: cointelegraph.com/news/instagram-influencer-charged-over-duping-followers-out-of-2-5m-btc
Published Date: Thu, 25 Mar 2021 05:17:44 +0000