TLDR:
Berman Jerry Nowlin, 21, died by suicide on Dec. 21, 2024, while awaiting sentencing in a cryptocurrency fraud case
Nowlin was convicted of wire fraud and money laundering in a “rug pull” scheme involving NFTs called “Undead Apes”
The scheme, which involved partner Devin Rhoden, resulted in $135,000 losses for investors
Nowlin’s family maintains his innocence, citing his autism and technical role in coding the blockchain tokens
Co-defendant Rhoden pleaded guilty and received 5 years probation after testifying against Nowlin
Berman Jerry Nowlin, a 21-year-old convicted in a cryptocurrency fraud case involving NFT collections, died by suicide at his Alabama home on December 21, 2024, according to his family. Nowlin was awaiting sentencing after a Tampa jury found him guilty of wire fraud and money laundering charges.
The case centered around non-fungible token (NFT) collections called “Undead Apes” and “Undead Lady Apes,” which Nowlin created with childhood friend Devin Rhoden, a senior airman at MacDill Air Force Base. The digital artworks featured colorful skeletonized primates traded on the Solana blockchain.
Federal prosecutors alleged that Nowlin and Rhoden orchestrated a “rug pull” scheme that cost investors $135,000. The fraud occurred when a promised third collection called “Undead Tombstone” was suddenly abandoned after building investor excitement, causing token prices to plummet.
Nowlin’s family and defense attorney maintained his innocence throughout the case. They described him as an unwitting participant who only assisted with coding and technical aspects of creating the blockchain tokens.
According to his mother, Deanna Ambrose, Nowlin had been diagnosed with autism and possessed above-average intelligence but had the emotional maturity of a 14-year-old. His condition made social interactions challenging, leading him to form most friendships online.
The young developer taught himself computer coding and spent considerable time gaming and chatting on platforms like Discord, where he met Rhoden. Their first two NFT collections proved legitimate and successful, with individual tokens reaching values as high as $360.
Defense attorney J. Jervis Wise argued that Nowlin had no motivation to engage in fraud, given the initial success of the project. He portrayed his client as a behind-the-scenes technical contributor while Rhoden handled marketing and investor communications.
However, prosecutors presented evidence showing Nowlin used “chain hopping,” a money laundering technique, to move fraud proceeds from Solana to the Ethereum blockchain before converting the cryptocurrency to U.S. dollars, which he split with Rhoden.
Court documents included online conversations between the pair discussing the theft. Rhoden pleaded guilty to federal charges and testified against Nowlin at trial, receiving five years of probation in November 2024 for his cooperation.
Following his arrest, Nowlin complied with pretrial restrictions, including using only a flip phone and staying off the internet. His family said technology restrictions prevented him from presenting evidence that he had attempted to reimburse investors.
His mother stated that Nowlin became deeply depressed after his conviction, worried less about potential prison time than about the impact of a criminal conviction on his future career in technology.
Prior to his death, Nowlin had aspirations of working remotely while traveling, planning to set up a mobile workstation in a van. Beyond his digital pursuits, he enjoyed fishing and traveling, having previously visited Jamaica.
The case highlighted the growing scrutiny of cryptocurrency-related crimes, particularly “rug pull” schemes where developers abandon projects after collecting investor funds. These incidents have prompted increased attention from federal law enforcement.
Rhoden’s role as a service member at MacDill Air Force Base added another dimension to the case, demonstrating how cryptocurrency fraud can involve individuals from various professional backgrounds.
Court documents revealed that one of Rhoden’s fellow airmen helped lead investigators to him, underscoring the role of insider information in prosecuting cryptocurrency-related crimes.
