The US Department of Justice has reportedly filed charges against a developer of Baller Ape Club NFT collection for a suspected rug pull. In a statement released Thursday, the US DoJ accused a Vietnamese national Le Anh Tuan of committing wire fraud and one count of conspiracy to commit international money laundering using the “Baller Ape” NFTs. Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losseshttps://t.co/9RUla6pJq5 pic.twitter.com/FWTiMl9NUu — Criminal Division (@DOJCrimDiv) June 30, 2022 Tuan allegedly collected $2.6 million from Baller Ape NFT buyers, only to shortly delete the project’s website and launder the funds. According to the Justice Department, he converted the ill-gotten gains into different cryptocurrencies and moved them across multiple blockchains. If convicted, Tuan could face up to 40 years in prison. Charging For An NFT Scam The Second Time The charges against Baller Ape mark the second time the US DoJ has investigated alleged rug pulls in which an NFT project’s creators sell NFTs on false promises of community benefits and utility, only to abandon the project and make away with investors’ funds. The Justice Department also announced separate charges against three individuals who allegedly raised more than $100 million in a global crypto Ponzi scheme, a fraudulent initial coin offering that sto...
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