Two 23-year-olds, Gabriel Hay and Gavin Mayo, allegedly abandoned projects after providing misleading information on project roadmaps.
Two 23-year-olds from California who allegedly defrauded investors of over $22 million in crypto assets through a non-fungible token (NFT) rug pull were arrested in Los Angeles and now face fraud charges.
In a press release, the Office of Public Affairs of the United States Department of Justice said Gabriel Hay and Gavin Mayo were charged with a single count of conspiracy to commit wire fraud, two counts of wire fraud and one count of stalking.
The duo allegedly sponsored and promoted NFT and digital asset projects and performed promotional activities to support the project. The Justice Department alleged that the duo made or caused other people to make “materially false and misleading statements” about the digital asset projects.
