Pinellas Park man charged in cryptocurrency ‘rug-pull’
February 22, 2024 - The U.S. Department of Justice announced Tuesday that it charged a Pinellas Park man with conspiracy to commit wire fraud and money laundering for a cryptocurrency scheme that bilked investors out of $300,000. Authorities allege that Devin Rhoden, 24, conspired with another man from Alabama to create and market a non-fungible token collection and abandon the project without meeting obligations, also known as a rug-pull. If convicted, the two men face up to five years in prison and must forfeit the proceeds.