Ponzi scheme

Indonesia Arrests Chinese Suspect Sought By Beijing For $14 Billion Investment Scam

Immigration officials in Indonesia have detained a Chinese person who is wanted by Beijing for his involvement in an investment scam that reportedly defrauded clients in China of over $14 billion, according to officials on Thursday. The 39-year-old suspect, referred to only by the initial LQ, was apprehended on October...

Former Instagram Influencer “Jay Mazini” Sentenced to Seven Years for Massive Fraud Scheme

Jebara Igbara, known online as "Jay Mazini," has been sentenced to seven years in prison for orchestrating a fraudulent scheme that duped millions of dollars from online followers and members of the Muslim community during the pandemic. The development was announced by prosecutors on Wednesday. Igbara, 28, of New Jersey,...