Mutant Ape Planet Creator Avoids Jail
Aurelien Michel, the creator of the fraudulent Mutant Ape Planet non-fungible token collection, has avoided further prison time following a court ruling, according to Bitcoinist. US Judge Margo Brodie sentenced Michel to time served of one month, alongside a $15,000 fine and the forfeiture of $1.4 million.
In January 2023, the US Attorney’s Office for the Eastern District of New York indicted Michel for allegedly defrauding investors of $2.9 million through the NFT collection, which was modeled after the Mutant Ape Yacht Club series. Prosecutors stated that Michel marketed the digital assets in 2022 with unfulfilled promises of merchandise and metaverse land before diverting funds to personal expenses. Michel entered a guilty plea to wire fraud charges in November 2023.
Prosecutors had requested a 37-month prison sentence. However, defense attorneys argued against jail time because buyers still received digital artwork. Judge Brodie noted that the exact financial loss remained unclear while acknowledging that purchasers received a digital item of undetermined value.
Bitcoinist reported that Michel’s case marks one of three US criminal indictments involving non-fungible token fraud and the first to reach a final court ruling.
Based on reporting by bitcoinist.com.
