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4 Comments
tldr; A Beverly Hills man, Gabriel Hay, and his accomplice, Gavin Mayo, face six counts of cryptocurrency crimes, defrauding investors of over $22 million. They allegedly executed ‘rug pulls’ by creating NFT and digital asset projects, soliciting investments, and then abandoning them. The duo is charged with conspiracy to commit wire fraud, wire fraud, and stalking. They also allegedly threatened individuals who attempted to expose their schemes. If convicted, they face up to 20 years in prison for conspiracy and wire fraud, and five years for stalking.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
>The 23-year-old Gabriel Hay allegedly connived with another fellow – Gavin Mayo of Thousand Oaks, also 23 years of age, to perpetrate a scheme that defrauded investors of their monies. This represents one of the many cases where cryptocurrency and other digital assets are used to perpetrate crime.
>According to the Beverly Press, the duo faces one count of conspiracy to commit wire fraud, two counts of wire fraud, and one count of stalking. Following investigations, authorities in Beverly Hills revealed that the duo tricked investors by using a series of digital asset project “rug pulls.”
Never get tired of reading about scammers getting what’s coming to them
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I hope they get what they deserve.
But I guess they’ll give it all back and get 1 year probation.
Fraudsters should be tried much more severely!