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Crypto millionaire scammer sentenced to 7 years in prison for targeting Muslims

Crypto millionaire scammer sentenced to 7 years in prison for targeting Muslims

Cointime2024/04/25 11:13
By: Cointime

Jabara Igbara, who claimed to be a crypto millionaire on Instagram and ran a Ponzi scheme through a company called Halal-Capital LLC, has been sentenced to seven years in prison by U.S. District Judge Frederic Block. Igbara scammed investors of at least $8 million and targeted Muslims through his fraudulent schemes. He pleaded guilty to wire fraud and money laundering charges in November 2022 and is required to forfeit $10 million. The United States Attorney's Office stated that Igbara used his fake online presence and Instagram persona to convince unsuspecting victims to invest in his schemes.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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