Man by the name of Jay Mazini, not his real name, his real name is actually
Jebarra Igbara, which is actually a better name if you ask me.
Is an Instagram influencer who's going to be spending some
time in prison because he decided to run a Ponzi crypto scheme
through which he scammed his followers out of $8 million.
So let's tell you how this all went down.
Igbara who ran a popular Instagram account under the name, Jay Mazini solicited money
from Muslim New Yorkers ostensibly in return for stock, electronics and
COVID-19 protective equipment according to federal prosecutors in Brooklyn.
The influencer was posting ads on his Instagram stories claiming
he was buying bitcoin at premiums of 5% over market value.
So basically give me your bitcoins,
I'm gonna pay you more than they're worth and people unfortunately fell for it.
So after agreeing on prices and payment methods,
Mazini would send his followers images and payment media of the transactions.
They in turn sent the Bitcoin to his wallet, but the money never arrived.
The documents were actually forged.
He also did this thing where he would show up at grocery stores and offer to pay for
people's groceries to make it appear as though he was altruistic and
also fabulously wealthy to just give his followers this idea that no, he's the real
deal, look at how rich he is, he's paying for other people's groceries.
There was even a video he put out where he's giving strangers wads
of cash while he's standing alongside 50 cent and again, it was all a scam.
So let me give you more details.
He pocketed at least $8 million in the scam and
blew all the cash on personal expenses and gambling according to the feds,
but he wasn't done just yet, he did more.
He then launched a second scheme to repay apparent returns he had
promised his victim, by posting on the Instagram page that he would
pay above market-rate sums for cryptocurrencies.
Igbara then sent his victims doctored images of wire transfers that I sent
the wire transfer.
It's on the way, purportedly showing payment for the crypto.
In reality Igbara was stealing the currency and yes,
that was an Anad LV reference, how could I not?
>> Yeah, so apparently this is like the oldest trick in the book, right?
So I saw a movie on Netflix Tinder swindler.
And so the way that the guy got money from all the women that he targeted in that
case was that he would pretend to be super rich.
And by the way, Bernie Madoff pretended to be super rich and so
well if he's doing this well that I might as well give him money.
Almost every scam starts with now look, I'm a prince in Nigeria and
I'm really rich, but I'm gonna need your money first, right?
>> 100% and by the way, I feel like there's a ton of this on social
media on Youtube like the faux financial advisors don't take
financial advice from Randos on Youtube and social media.
>> Especially if they're telling you about how great Bitcoin is and
they have it covered and all you have to do is just trust them.
Look, it happens in every context, like, so I like gambling, my friends,
I never get any of this cause I don't.
If I want a gambling advice, then I wouldn't gamble.
I like to gamble because I'm trying to predict who wins, right?
If that's the fun of it.
Anyways, but my friends do it and every time you're like, sure winner,
I got a sure winner, just give me money first and I'll tell you who's gonna win.
Hey, if you're so sure, why don't you bet on it [LAUGH]?
So of course, it's nonsense how the hell would you know what a sure winner is?
Why are you being paying above market prices when somebody tells you I'm
gonna pay you above market prices, watch out.
They're very likely coming for your wallet.
>> Unless you're trying to trade in your used car right now,
you might get above market value for it.
>> That's actually true but
a very rare instance of a market because of shortages, etcetera.
And so you need to do that at TYT.com, we're kidding, okay.
So the only part of the story that I like and I feel terrible because he's,
>> No, don't feel terrible,
he's a bad person.
>> No not for him, I hate the guy for
the people he ripped off because they fell for it.
They mean well and then they fell forward cause greed is real, right?
And they got suckered.
But for him, I love that he lost all the money anyway.
>> I Love it, by the way.
So he could spend 20 years in prison on these charges alone?
But he actually got in trouble previously because he and
his wife kidnapped one of his enemies, this is insane.
So he ended up pleading guilty in this case and
will serve five years in prison for this alone.
He and his wife then beat the man unconscious and
threatened to kill him with a machete.
>> Yeah, note look man, just plead for God's sake, give him 20 years.
I know people who steal a lot of money never get a lot of time, but
give set an example here.
He's ripping off poor innocent people.