Once a social media darling known for handing out cash, Jay Mazini, real name Jebara Igbara, has been sentenced to seven years in prison for a multi-million dollar cryptocurrency Ponzi scheme.

The 28-year-old New Jersey resident preyed on trust and religious connections within the Muslim community, promising high returns through his company Hallal Capital LLC. Instead, the "investments" fueled a lavish lifestyle of luxury cars and gambling.

From Hype to Handcuffs

Igbara cultivated a glamorous online image with nearly a million Instagram followers. Viral videos showcased him showering fast food workers and everyday people with cash, even appearing with rapper 50 Cent. This carefully crafted persona fueled the illusion of success, enticing victims to invest.

The Mask Slips

By 2020, online sleuths began exposing Igbara's alleged fraud. The facade crumbled further with his 2021 arrest on kidnapping charges (to which he later pleaded guilty). Despite these red flags, some victims remained hopeful, with court documents revealing individuals sending over $100,000 in Bitcoin, promised returns that never materialized.

Justice Served, But Scars Remain

Igbara's apology during sentencing rang hollow for victims who lost millions. He received a seven-year sentence for fraud, running concurrently with a five-year term for kidnapping, with credit for time served. Additionally, he faces a hefty $10 million restitution order.

This case underscores the dangers of online personas and the importance of due diligence before investing, especially with promises that seem too good to be true. While the recovered Web3 stolen capital offers a glimmer of hope, the impact of Igbara's scheme on his victims likely leaves deeper scars.