US: US District Judge Frederic Block sentenced Halal Capital Founder Jebara Igbara, also known as Jay Mazini, to 84 months in prison for overlapping fraud schemes.
One of his fraud schemes was done through a company called Halal Capital, which targeted members of the Muslim–American community in New York by soliciting their money for purported investments in stock, electronics resale and the sale of personal protective equipment. In reality, Jebara was operating a Ponzi scheme, and misappropriated nearly all of the money for his personal expenses, luxury vehicles and gambling.
IFN previously reported that Jebara had pleaded guilty in the Federal Court in Brooklyn to charges of wire fraud, wire fraud conspiracy and money laundering in November 2022.
