Jebara Igbara, a.k.a. 'Jay Manzini,' will go to jail for running an investment scam and bitcoin Ponzi scheme.
Jebara Igbara, a.k.a. “Jay Manzini,” will go to jail for running an investment scam and bitcoin Ponzi scheme.
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.that the so-called Instagram influencer “Jay Manzini” will face up to 20 years in federal prison for his offenses.
“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.a multi-million bitcoin Ponzi scheme. He posted ads on his Instagram stories, maintaining he wanted to buy such large amounts of BTC that prominent trading venues like Binance and Coinbase would not allow him.
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