ChainCatcher news, the U.S. Department of Justice has reviewed the fraud case against Aurelien Michel, the developer of the MAYC imitation Mutant Ape Planet series NFTs, who admitted to defrauding nearly $3 million. Aurelien Michel faces a maximum of 5 years in prison and has agreed to pay a $1.4 million fine.ChainCatcher previously reported that the developer of the MAYC imitation Mutant Ape Planet was arrested on suspicion of defrauding $2.9 million.

ChainCatcher news, according to CoinDesk, Aurelien Michel, the developer of the MAYC knockoff Mutant Ape Planet series NFTs, has been arrested and is accused of defrauding $2.9 million.According to the complaint submitted to the court, Aurelien Michel and other defendants promoted the Mutant Ape Planet NFTs to potential buyers, promising "rewards, raffles, exclusive access to other cryptocurrency assets, and marketing funds for the NFT series provided by a community-controlled wallet." The project developers also vaguely promised that NFT holders would receive "metaverse land." However, Michel's promises were not fulfilled. After all the NFTs were sold, Michel and the other defendants allegedly transferred nearly $3 million in proceeds to other wallets, including wallets controlled by Michel. (Source link)