Berman Jerry Nowlin, a 21-year-old convicted for his role in a $135,000 NFT “rug pull” scheme, died by suicide on December 21, 2024, at his home in Alabama, just weeks before his sentencing.
His family confirmed his death to the Tampa Bay Times on Thursday, describing their heartbreak over the tragic loss.
The young man’s death occurred as he awaited sentencing, which was scheduled for January.
Nowlin faced federal charges of wire fraud and money laundering for his involvement in a scheme that defrauded investors through a fraudulent cryptocurrency project.
How the Undead Apes NFT Scam Unfolded
Prosecutors alleged that Nowlin worked with Devin Rhoden, a senior airman stationed at MacDill Air Force Base in Tampa and a childhood friend, to orchestrate the scam.
The fraudulent scheme centered around a cryptocurrency project that included the creation and promotion of an NFT collection named “Undead Tombstone,” which was marketed alongside the Undead Apes NFT collection to lure investors.
The indictment revealed that the duo convinced hundreds of victims to invest tens of thousands of dollars in cryptocurrency, promising substantial returns.
However, these promises turned out to be baseless. When investors realized the project’s claims were false, the scheme unraveled, triggering an investigation that led to the arrests of both Nowlin and Rhoden.
A Tampa jury found the two men guilty of multiple charges, holding them accountable for their roles in the financial crime.
A Tragic End Before Sentencing
While awaiting sentencing, Nowlin’s unexpected death has added a tragic turn to an already grim case.
His family expressed their heartbreak, noting that he was struggling with the weight of his conviction and the impending punishment.
The exact circumstances of his death remain unclear, but his family confirmed it was a suicide.
The charges Nowlin faced carried severe penalties, including substantial prison time.
Prosecutors had highlighted the betrayal of trust involved in the fraud, as investors had placed their confidence in the project, only to be deceived.
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