coinpedia 2025-01-04 10:50:58

Convict in Undead Apes NFT Fraud Dies by Suicide Before Sentencing

The post Convict in Undead Apes NFT Fraud Dies by Suicide Before Sentencing appeared first on Coinpedia Fintech News Burman Jerry Nowlin, a 21-year-old involved in a $400,000 NFT scam, tragically took his own life on December 21, 2024, just weeks before his sentencing. Nowlin had been convicted for his role in the Undead Apes NFT fraud and was facing federal charges of wire fraud and money laundering. In November 2024, a U.S. court found Nowlin guilty for his part in the scam. Along with 25-year-old Devin Alan Rhoden, Nowlin helped sell two Solana NFT collections before canceling a third. The fraudulent scheme, which included a fake NFT collection, deceived hundreds of investors who were promised large returns. However, the claims turned out to be false, triggering an investigation that led to convictions. The Department of Justice stated that the scheme succeeded due to misleading claims, including partnerships with well-known businesses and promises of special benefits for buyers. Nowlin’s unexpected death has added a tragic twist to an already devastating case. His family confirmed it was a suicide and expressed their heartbreak. The sentencing, originally set for January 2025, will proceed for Nowlin’s co-conspirator, Devon Rhoden, who was also found guilty in the scheme. Nowlin was set to face up to five years in federal prison at his sentencing in January 2025, but tragically died by suicide just weeks before his hearing.