New York-based Instagram influencer Jebara Igbara (who went by the online pseudonym Jay Mazini) has pled guilty to an assortment of crimes including stealing $2.5 million worth of Bitcoin from his followers.
Igbara reportedly posted on his Instagram and other social media accounts that he was willing to pay above-market prices for various cryptocurrencies, usually around 3.5% to 5% over their market value. The influencer justified the premium by claiming that traditional crypto exchanges were limiting how much Bitcoin he could purchase.
According to the court filing, after receiving the crypto, Igbara would then send his victims doctored images of wire transfer confirmations that purported to show he had sent money for the cryptocurrency as promised. In reality, the payment was never sent.
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