According to Odaily, the U.S. Department of Justice has charged two California men in connection with a significant NFT fraud scheme that allegedly defrauded buyers of over $22 million. This case is described as the largest NFT fraud prosecution in the department's history. Gabriel Hay from Beverly Hills and Gavin Mayo from Thousand Oaks face charges including conspiracy to commit wire fraud, two counts of wire fraud, and one count of stalking. The two were arrested in Los Angeles last Thursday.
The indictment alleges that from May 2021 to May 2024, Hay, also known by aliases such as 'Mr. Handz,' 'Diamondhandz,' 'Centurion,' and 'Vaultkeeper,' along with Mayo, known as 'Gavinm,' promoted NFT projects using false statements and misleading project roadmaps. They are accused of enticing victims through NFT projects minted on the Ethereum and Solana blockchains. These projects include Vault of Gems, Faceless, Sinful Souls, Clout Coin, Dirty Dogs, Uncovered, MoonPortal, Squiggles, and Roost Coin.
