A self-proclaimed millionaire in cryptocurrency on Instagram, "JAY MAZINI" (real name JABARA IGBARA), has been sentenced to seven years in prison by a US district judge for telecommunications fraud and money laundering, with a forfeiture of $10 million. IGBARA fabricated his identity on Instagram and other social media platforms to deceive investors into participating in his cryptocurrency price scheme, which was higher than the market price. However, he never made any payments. He operated a Ponzi scheme targeting Muslims through HALAL-CAPITAL LLC, with at least $8 million involved. (COINDESK)

The self-proclaimed millionaire "Jay Mazini" on Instagram, whose real name is Jabara Igbara, has been sentenced to seven years in prison by a US district judge for telecommunications fraud and money laundering, and is required to forfeit $10 million. Igbara fabricated identities on Instagram and other social media platforms to deceive investors into participating in his cryptocurrency price scheme, which was higher than the market price, but he never made any payments. He operated a Ponzi scheme targeting Muslims through his company, Halal-Capital LLC, involving at least $8 million. (CoinDesk)

Cryptocurrency millionaire "Jay Mazini" on Instagram has been sentenced to seven years in prison for telecommunication fraud and money laundering.