📣 Mutant Ape Planet NFT Creator Pleads Guilty

posted  15 Nov 2023
Photo - 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.

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.