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Mutant Ape Planet NFT Developer Charged With Fraud for Selling ‘Worthless Asset’

The Department of Justice for the Eastern District of New York unsealed a criminal complaint on Jan. 5 against  Mutant Ape Planet developer Aurelien Michel for defrauding investors.

Michel was arrested at JFK Airport on Jan. 4 and will stand before a magistrate within 24 hours.

This is the first time such charges have been filed against an NFT project within the Eastern District of New York.

Furthermore, the language within the complaint emphasized that “none of the promised benefits were provided” to holders of the Mutant Ape Planet NFTs. Instead, Michel allegedly failed to deliver on the project’s roadmap and pulled funds into his own wallets. The complaint also referred to the NFTs without the “promised benefits” as a “worthless asset.”

(By Liam 'Akiba' Wright)

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