CoinVoice has recently learned that the U.S. Department of Justice has filed a lawsuit against two men from Beverly Hills and Ventura County, accusing them of carrying out a 'rug pull' scam through multiple NFT projects, involving more than $22 million. 23-year-old Gabriel Hay and Gavin Mayo are charged with conspiracy to commit wire fraud, wire fraud, and stalking harassment among other offenses.
It is reported that the two launched several NFT and digital asset projects, including Vault of Gems, Faceless, and Sinful Souls, between May 2021 and May 2024, deceiving investors through false advertising and misleading roadmaps. After a project manager exposed their identities, the two also harassed and intimidated him and his family.
If convicted, each defendant could face up to 20 years in prison for each count of wire fraud and conspiracy, and up to 5 years for stalking and harassment. The case is currently under investigation by the Homeland Security Investigations (HSI) Baltimore field office. [Original link]