Two California residents have been arrested in Los Angeles and charged with defrauding investors of more than $22 million through the Rug Pull scheme. Gabriel Hay and Gavin Mayo launched projects like Vault of Gems and Faceless with big promises, but abandoned them after receiving funds.

In addition to financial fraud, the defendants stalked a former participant in one of the projects, threatening him and his family. If found guilty, each faces up to 20 years in prison for fraud and up to five years for stalking.