Instagram Influencer Charged for Allegedly Stealing Millions of Dollars in Bitcoin From Followers – Regulation Bitcoin News

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A popular Instagram personality has been charged in the U.S., accused of stealing bitcoins worth millions of dollars from his followers. He allegedly convinced the “victims to sell him their bitcoin at attractive, but inflated, values” but he never wired them the money for the coins sent to him.

Instagram Influencer’s Bitcoin Scam

The U.S. Department of Justice (DOJ) announced Wednesday that a popular Instagram personality known as “Jay Mazini” has been charged with wire fraud related to a bitcoin scam. The Justice Department wrote:

A complaint was filed in federal court in Brooklyn yesterday charging Jegara Igbara, also known as ‘Jay Mazini,’ with wire fraud related to a scheme in which the defendant allegedly induced victims to send him bitcoin by falsely claiming to have sent wire transfers of cash in exchange for the bitcoin.

The DOJ explained that “In reality, Igbara never sent the money, and stole at least $2.5 million worth of bitcoin from victims.”

Acting U.S. Attorney Mark Lesko described that Igbara “used his immense social media popularity to dupe his followers into selling him bitcoin … at attractive, but inflated, values.” IRS-CI Special Agent-in-Charge Jonathan Larsen similarly noted that “This defendant allegedly used his online…

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