Two individuals from Southern California, Gabriel Hay and Gavin Mayo, are currently facing charges for allegedly defrauding investors of more than $22 million in cryptocurrency through deceptive NFT and digital asset schemes. The indictment reveals that they were involved in a series of “rugpulls,” where they would solicit funds for NFT projects and then abandon them after collecting investments. Some of the projects involved in the alleged scams include Vault of Gems, Faceless, and Clout Coin. Prosecutors have accused Hay and Mayo of misleading investors with false claims and deceptive project plans. Additionally, when a project manager exposed their fraudulent activities, they allegedly resorted to harassing him and his family. If found guilty, both individuals could face up to 20 years for wire fraud and conspiracy charges, as well as an additional five years for stalking. The case is being investigated by HSI Baltimore and prosecuted by the Justice Department’s National Cryptocurrency Enforcement Team (NCET), which is dedicated to combating cryptocurrency fraud.