Bitcoin worth millions of dollars is being defrauded by jay mazini According to federal investigators, one popular figure in New York and New Jersey
According to court documents published on Thursday, Jay Mazini, whose legal name is Jabara igbara, allegedly sent him the digital currency in exchange for cash, but Mazinis never transferred the money to the victims. In total, Mazini allegedly raised Bitcoin from the victims at least $2.5 million.
Instagrammer, 25, was successful in posting videos of himself, giving cash to random people across the metropolis. Mazini has given thousands of dollars to fast-food workers in Paterson, New Jersey in a video that made headlines last year.
However,” said William F. Sweeney, Jr., Assistant Head of the New York FBI, “a look behind the scenes revealed things that aren’t always as they look,” “The Bitcoin transactions Igbara had been engaged in with his victims were nothing philanthropic.”
From January 2021 to March, Mazini offered to purchase Instagram Bitcoin by other people 3.5% to 5% higher than the market value, according to investigators. Mazini told potential sellers that he was prepared to pay more because Bitcoin limited the amount of money he could buy.
At least four federal investigators told Mazini that they would commit money by wire transfer, supplying them with videos or screenshots which allegedly show the transfers. The vendors have never received money,”in sufficient amounts to pay for receipt of the Bitcoin [Mazini].’
Authorities look for more possible victims and any person with information is invited by tips.fbi.gov to contact the FBI.
Mazini is now held in New Jersey for other charges, according to authorities, separate from wire fraud allegations.
A detainee’s investigation has shown that he has been accused of a serious assault, adult lurking, abductions, arms possession, criminal coercion, endangering an injured victim and terrorist threats. It is not clear whether Mazini has a representative who is able to speak for him.