Solana Rug Pull NFT Project Developer Convicted of Wire Fraud and Money Laundering Conspiracy

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Cointime2024/11/01 13:11

By:Cointime

a federal jury in Florida, USA, has found 21-year-old NFT developer Berman Jerry Nowlin (also known as Repulse and Zayous) guilty of conspiracy to commit telecommunications fraud and money laundering. He could face up to five years in prison, and the sentencing will take place on January 23, 2025. Nowlin and co-defendant Devin Alan Rhoden minted the "UndeadApes" and "Undead Lady Apes" NFT series on Solana, with Nowlin serving as the developer for both projects, including creating NFTs using an art engine, managing blockchain protocols, and writing Solana smart contracts. Later, the two carried out a Rug Pull on the third NFT series, Undead Tombstone, and deleted their Discord and Twitter accounts in April 2022, cutting off all communication with investors. They received nearly $400,000 in cryptocurrency from these three NFTs. Rhoden admitted to conspiring to commit telecommunications fraud and money laundering on May 24, 2024. His sentencing hearing is scheduled for November 20, 2024.

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