According to TechFlow, in November 2024, a US court ruled that 21-year-old Berman Jerry Nowlin helped plan a $400,000 NFT "Rug Pull" incident on charges including wire fraud and money laundering.
Berman Jerry Nowlin and 25-year-old Devin Alan Rhoden sold two sets of Solana NFTs, "Undead Apes" and "Undead Lady Apes" in 2022, making a total profit of nearly $400,000 and were subsequently convicted.
The U.S. Department of Justice report said the success of these projects was due to "completely false statements," including false promises of cooperation and utility. The third series was defined as "Rug Pull" because the team deleted the Discord and Twitter accounts after receiving the payment.
