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NFT Fraud and Unregistered Securities Allegation: No Indictment (Non-Prosecution)

NFT Fraud and Unregistered Securities Allegation: No Indictment (Non-Prosecution)

Client Information
Individual / Defendant
 
Case Details

The client was engaged as a designer for an NFT project based on a friend's suggestion. Initially, the work involved creating and delivering artwork for compensation. However, the client's role expanded to include additional activities like posting updates on the project’s Discord server. The client received payment in cryptocurrency or salary for their contributions.

Later, investors filed fraud charges against project participants, claiming the roadmap initially disclosed had not been fulfilled, causing financial losses. Despite also suffering losses as a small investor, the client was named as a defendant due to their involvement in the project.

Decent's Strategy
Decent Law Firm leveraged its expertise in NFTs and blockchain to develop a clear and compelling defense. The approach included:

[Clarifying the Client’s Role]
Conducted a thorough fact-finding process to demonstrate that the client’s responsibilities were limited to design and communication-related tasks, without involvement in fraudulent activities or investor solicitation.

[Explaining Blockchain Concepts]
Simplified complex industry terms such as minting, P2E (Play-to-Earn), and AMA (Ask Me Anything) to provide clarity, while underscoring that the client’s actions were unrelated to misleading investors.

[Presenting Evidence]
Highlighted that the client’s primary contributions were artistic, with no indication of deceitful intent. Discord-related activity was reviewed and shown to be administrative in nature, not fraudulent.
Outcome
"Non-Prosecution Decision (No Charges)"

The investigating authorities concluded that there was insufficient evidence to pursue fraud charges against the client. Decent Law Firm’s meticulous analysis and targeted legal arguments helped the client avoid criminal liability.

This case underscored the unique challenges of regulating NFTs, which are not subject to the same laws as traditional financial assets like securities. Decent Law Firm successfully demonstrated the nuances of blockchain-based projects, enabling authorities to differentiate NFTs from standard financial instruments.
#NFT # CoinFraud # Cryptocurrency # CoinAttorney # NFTFraud

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