PANews reported on November 2 that according to Bloomberg, Aurelien Michel, the developer of the MAYC replica Mutant Ape Planet series of NFTs, avoided jail time for defrauding buyers. The judge said it was difficult to determine how much money the buyer actually lost, so he avoided jail time for defrauding buyers. Aurelien Michel, 26, pleaded guilty to wire fraud in November last year, admitting that he falsely promised to provide "exclusive" benefits to thousands of NFT buyers. Prosecutors from the office of U.S. Attorney Breon Peace in Brooklyn, New York, said he abandoned the project after raising $2.9 million. Federal prosecutors asked for a 37-month prison sentence, but the judge ultimately sentenced him to one month in prison, a $15,000 fine and a $1.4 million confiscation.
Earlier news , the developer of Mutant Ape Planet has pleaded guilty in a fraud case and agreed to pay a fine of $1.4 million.
