Charges For Wire Fraud Conspiracy & Money Laundering For NFTs! – Fin Tech

0
45
Booking.com


To print this article, all you need is to be registered or login on Mondaq.com.

BankInfoSecurity.com reported that “A Vietnamese man
accused of orchestrating the largest non-fungible token rug pull to
date faces prosecution in the United States for wire fraud
conspiracy and money laundering.” The July 1, 2022 article
entitled “US DOJ Targets Baller Ape Rug Pull and Other
Crypto Fraud
” included these comments:

The indictment is one of a clutch of cryptocurrency fraud
prosecutions touted by Justice this week.

They include cases against a fraudulent investment fund that
purportedly traded on cryptocurrency exchanges, a global Ponzi
scheme involving the sale of unregistered crypto securities, and a
fraudulent initial coin offering.

Blockchain entries pointing to cartoons of anthropomorphized
apes have been a hot commodity among crypto traders who looked
forward to the promised drop of 5,000 such digital assets under the
Baller Ape brand.

Each digital asset was priced the equivalent of
approximately $300 each.

Higher-end cartoon apes won purchasers entry into reward
programs.

Clearly this is not what everyone expected when they invested in
these NFTs!

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

POPULAR ARTICLES ON: Technology from United States

NFT Artist Agreement: What’s The Big Deal?

Klein Moynihan Turco LLP

Artists have always sought to protect their work, no matter what the medium, from unauthorized reproduction and sale. In the digital media space, companies have been converting art into “minted,…

Incorporating AI Into Today’s Risk Management Processes

Wilson Elser Moskowitz Edelman & Dicker LLP

Stratton Horres (Senior Counsel-Dallas, TX) co-authored “Incorporating AI into Today’s Risk Management Processes” along with David Steiger for the May 26, 2022, edition of Westlaw Today.

Do You Need An NFT Owner Agreement?

Klein Moynihan Turco LLP

Despite reported slower growth in 2022 so far, non-fungible tokens (“NFTs”) are still expected to surpass 2021 in market sales.


Source link

Sonoma Seeds - Spring Has Sprung 250x250

LEAVE A REPLY

Please enter your comment!
Please enter your name here