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Uncategorized

Vietnamese Man Faces 40 Years In Prison After US NFT Fraud Accusation

July 1, 2022 - Around 2 mins mins to read

The US Department of Justice has indicted a Vietnamese citizen for allegedly defrauding $2.6 million after rug-pulling an NFT project.

Vietnamese
Mr. Le Anh Tuan is accused of defrauding $2.6 million from an NFT project investor called Baller Ape Club

A Vietnamese “rug pull” of $2.6 million from the NFT  project

According to a press release published on the morning of July 1, the US Department of Justice issued an indictment against Le Anh Tuan, 26 years old, a Vietnamese citizen.

Mr. Le Anh Tuan is accused of defrauding $2.6 million from an NFT project investor called Baller Ape Club, with the Bored Ape Yacht Club (BAYC) motif. After starting the project and selling NFT on the Solana blockchain platform, earning about $2.6 million, this person suddenly deleted the project website and ran away with the money.

After the rug pull, authorities discovered that Tuan and his accomplices had moved the money to various blockchains to remove traces.

The US Department of Justice announced that if convicted of all charges, Le Anh Tuan could face up to 40 years in prison. The California Central District Court hears the case.

Authorities also said it was the US’s highest-value NFT fraud case ever prosecuted. The announcement does not disclose more specific information about the background and current data of Mr. Le Anh Tuan.

In addition, the US Department of Justice also prosecuted three other fraud cases related to cryptocurrencies, including:

  • TBIS: conspiracy to impersonate US government officials and Apple employees to launch ICOs;
  • EmpiresX: crypto trading platform accused of selling illegal securities and Ponzi;
  • Circle Society: conspired to raise capital to set up a crypto investment fund, committed to a profit of up to 600% but did not register it with the authorities.

In total, all four cases prosecuted by the US Department of Justice caused investors more than $130 million in damages.

The US Department of Justice urges victims of all four scams to report for support and claims to the authorities.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

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Uncategorized

Vietnamese Man Faces 40 Years In Prison After US NFT Fraud Accusation

The US Department of Justice has indicted a Vietnamese citizen for allegedly defrauding $2.6 million after rug-pulling an NFT project.

Vietnamese
Mr. Le Anh Tuan is accused of defrauding $2.6 million from an NFT project investor called Baller Ape Club

A Vietnamese “rug pull” of $2.6 million from the NFT  project

According to a press release published on the morning of July 1, the US Department of Justice issued an indictment against Le Anh Tuan, 26 years old, a Vietnamese citizen.

Mr. Le Anh Tuan is accused of defrauding $2.6 million from an NFT project investor called Baller Ape Club, with the Bored Ape Yacht Club (BAYC) motif. After starting the project and selling NFT on the Solana blockchain platform, earning about $2.6 million, this person suddenly deleted the project website and ran away with the money.

After the rug pull, authorities discovered that Tuan and his accomplices had moved the money to various blockchains to remove traces.

The US Department of Justice announced that if convicted of all charges, Le Anh Tuan could face up to 40 years in prison. The California Central District Court hears the case.

Authorities also said it was the US’s highest-value NFT fraud case ever prosecuted. The announcement does not disclose more specific information about the background and current data of Mr. Le Anh Tuan.

In addition, the US Department of Justice also prosecuted three other fraud cases related to cryptocurrencies, including:

  • TBIS: conspiracy to impersonate US government officials and Apple employees to launch ICOs;
  • EmpiresX: crypto trading platform accused of selling illegal securities and Ponzi;
  • Circle Society: conspired to raise capital to set up a crypto investment fund, committed to a profit of up to 600% but did not register it with the authorities.

In total, all four cases prosecuted by the US Department of Justice caused investors more than $130 million in damages.

The US Department of Justice urges victims of all four scams to report for support and claims to the authorities.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News