EddieJayonCrypto
25 Dec 24
The U.S. Department of Justice is charging Gabriel Hay and Gavin Mayo, both 23-year-olds from California, for orchestrating a fraudulent non-fungible token (NFT) investment scheme. The scheme involved multiple cryptocurrency rug pull scams, where they allegedly inflated asset prices before selling, ...
The U.S. Department of Justice has charged Gabriel Hay and Gavin Mayo, both 23-year-olds from California, for orchestrating a fraudulent non-fungible token (NFT) investment scheme. The duo is accused of promoting false altcoin and NFT projects and engaging in rug pull scams, causing significant financial losses for investors. They are also facing allegations of a harassment campaign against a developer. If convicted, they could potentially face prison sentences of up to 25 years. Gabriel Hay and Gavin Mayo, both 23-year-olds from California, are being charged by the DOJ for their involvement in a multimillion-dollar NFT investment scam. The accusations include multiple cryptocurrency rug pull scams, false statements about project launches, and a harassment campaign against a developer. Homeland Security Investigations (HSI) Executive Associate Director Katrina W. Berger emphasized the impact of such technological fraud schemes, underscoring that cryptocurrency fraud networks will be investigated and dismantled. If found guilty on all counts, Hay and Mayo could be sentenced to up to 25 years in prison.