Developer of a Rug Pull NFT project on Solana convicted of conspiracy to commit telecom fraud and money laundering

According to Foresight News, 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 telecom fraud and money laundering. The maximum sentence will be five years in prison, and the sentencing is scheduled for January 23, 2025. Nowlin and co defendant Devin Alan Rhoden forged the "Undead Apes" 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. Subsequently, the two implemented a rug pull on the third NFT series, Undead Tombstone, and deleted Discord and Twitter accounts in April 2022, cutting off all communication with investors. Through these three NFTs, they received nearly $400000 in cryptocurrency. Rhoden admitted to conspiring to commit telecommunications fraud and money laundering on May 24, 2024. His sentencing hearing is scheduled for November 20, 2024.