Mutant Ape Planet NFT Creator Pleads Guilty
Aurelien Michel, the developer behind the Mutant Ape Planet digital collection, has admitted to orchestrating a $3 million fraud. Together with his accomplices, he launched a knock-off of the popular Mutant Ape Yacht Club series, duping investors with promises of perks and privileges for NFT owners.
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Aurelien Michel, the developer behind the Mutant Ape Planet digital
collection, has admitted to orchestrating a $3 million fraud. Together
with his accomplices, he launched a knock-off of the popular Mutant Ape
Yacht Club series, duping investors with promises of perks and
privileges for NFT owners.
The
group of scammers actively promoted the project, diverting substantial
resources to personal luxuries. As user suspicions grew, Michel
initially denied any wrongdoing but later announced the project's
shutdown, blaming a toxic community.
“While
Michel purported to sell dream NFTs backed with rewards and benefits,
he defrauded investors, turning their dream into a nightmare of
deception and losses,” said Thomas M. Fattorusso.
Michel
was apprehended on January 4, 2023, shortly after the revelations
surfaced on social media. Due to his guilty plea and cooperation with
the authorities, he now faces up to five years in prison and is ordered
to pay $1.4 million in restitution.
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