Instagram Influencer Scams Followers, Collects Bitcoin
-A popular American Instagram influencer has been arrested and charged to court for defrauding his followers
-He allegedly convinced his victims to sell their Bitcoin at an attractive rate to him but didn’t pay them
-The influencer known as Jay Mazini has been charged with Bitcoin scam by the US justice department
A popular Instagram Influencer, Jay Mazini has been charged to court by the US Justice Department for fraud.
The influencer allegedly defrauded his followers of Bitcoins worth millions of dollars.
He asked his unsuspecting victims to sell their coins to him at an attractive rate, and the majority obliged.
The department of Justice reported that Mazni never sent money to any of the victims and stole BTC worth at least $2.5 million.
Born Jegara Igbara, Jay Mazini gained popularity on Instagram after uploading several videos where he was seen gifting individuals cash.
From January 2021, Igbara started posting videos on his Instagram, offering to buy followers’ Bitcoin at prices up to 5% over market value.
The influencer said that he was willing to pay above market value because Crypto exchange platforms were limiting how much Bitcoin he could buy.
Read also: Visa Inc. Now Accepting Crypto Payment
When victims agreed to the deal, he sent them fake documents of wire transfers but the money never arrived in their accounts.
Investigations are still ongoing and the FBI has urged other victims of Igbara to step forward and file a complaint.
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