Court Ruling on NFT Fraud Case Leads to Tragic Outcome

According to PANews, a U.S. court in November 2024 found Nowlin guilty of involvement in a $400,000 NFT fraud scheme, which included charges of wire fraud and money laundering. Before sentencing, Nowlin tragically took his own life. The Department of Justice reported that the project's success was based on 'entirely false statements,' such as alleged partnerships with 'well-known companies' and promised benefits for holders. Additionally, the perpetrators deleted their Discord and Twitter accounts after receiving payments. The NFT series began selling in 2022, raising nearly $400,000 from hundreds of victims who invested in the fraudulent projects.