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‘Baller Ape Club’ NFT Promoter Charged in Alleged Rug-Pull Scam

The Justice Department announced criminal charges against a person involved in promoting “Baller Ape Club” non-fungible tokens and five other people involved in crypto fraud schemes that together raised more than a $130 million from investors.

Le Anh Tuan was accused of conspiring to steal $2.6 million from investors in the largest NFT scheme ever charged, the department said in a Thursday statement. Tuan was allegedly part of the Baller Ape Club, which purported to sell NFTs in the form of various cartoon figures. Shortly after the first NFTs were publicly sold, Tuan and other unnamed conspirators engaged in a so-called “rug pull,” shutting down the project and disappearing with investors’ money.