Creator of fraudulent Mutant Ape NFTs pleads guilty to $3 million fraud scheme

THE French developer of THE mutant Monkey Planet NFT collection faces up has five years In prison After pleading guilty has thread fraud fresh.

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THE Creator of THE mutant Monkey Planet non-fungible token (NFT) collection — A counterfeit of Yuga Laboratories mutant Monkey Yacht club project — has pleaded guilty has conspiracy has commit thread fraud In A New York federal court.

In A Nov. 14 statement, THE WE. Lawyers Desk For THE East District of New York said French national Aurélien Michael pleaded guilty has execution A "carpet to pull" And admitted has defraud investors out of $3 million In connection with THE fraudulent mutant Monkey Planet NFT.

Non-fungible Token (NFT) Developer Plead Guilty has A International Scheme has Defraud NFT Buyers

Aurélien Michael Conspired has Fly From Buyers of “Mutants Monkey Planet" NFT Through FAKE Promises And False statements @ HSINewYork @IRSCI_NY https://t.co/K3CzIb8dQD

— WE Lawyer EDNY (@EDNYnews) November 14, 2023

According to has Department of Justice (DOJ) prosecutors, Michael And her co-conspirators commercialized THE NFT has investors by falsely promising them rewards And benefits designed has increase THE request For THE collection.

Prosecutors said Michael And her associates "intentionally failed has deliver on these promises, diversion millions of dollars' value of product For their staff advantage. »

"While Michael alleged has sell dream NFT supported with rewards And benefits, he fraud Investors, turning their dream In A nightmare of deception And losses," said Thomas Mr. Fattorusso, special A...