Mutant Ape Planet Founder Arrested In New York For Allegedly Defrauded Of $2.9 Million

Key Points:

• Aurelien Michel, the founder of the “Mutant Ape Planet” NFT project, is accused of allegedly defrauding customers of $2.9 million.
• The defendant was arrested at John F. Kennedy International Airport. His first hearing before United States Magistrate Judge James R. Cho is planned for this afternoon.

Mutant Ape Planet founder, Aurelien Michel was accused in federal court in Brooklyn of defrauding customers of the NFT project “Mutant Ape Planet” out of $2.9 million.

Aurelien Michel, a French national residing in the United Arab Emirates (UAE), was charged today in federal court in Brooklyn with defrauding purchasers of “Mutant Ape Planet” NFTs, a sort of digital asset, of more than $2.9 million in cryptocurrencies.

Last night, the defendant was arrested at John F. Kennedy International Airport. His first hearing before United States Magistrate Judge James R. Cho is planned for this afternoon.

As alleged, Aurelien Michel perpetrated a ‘rug pull’ scheme – stealing nearly $3 million from investors for his own personal use. Purchasers of Mutant Ape Planet NFTs thought they were investing in a trendy new collectible, but they were deceived and received none of the promised benefits, HSI uses our extensive experience investigating financial crime in conjunction with our cutting edge cyber capabilities to uncover fraud and bring the perpetrators to justice.

said Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations (HSI) in New York

Previously, Michel promised to devise strategies for the NFTs to appreciate in value and that holders of NFTs would be rewarded. However, he allegedly used the $2.9 million in user payments for his personal expenses.

Mutant Ape Planet NFTs were marketed with promises of exclusive benefits potential purchasers would receive. Those benefits included exclusive opportunities for additional investments, giveaways, merchandise, and other rewards.

However, after sending their cryptocurrency and obtaining the NFT, purchasers received nothing while their cryptocurrency was diverted from the Mutant Ape Planet NFT project to cryptocurrency wallets controlled by the defendant Aurelien Michel. In total, more than $2.9 million in purchasers’ cryptocurrency was diverted as part of Michel’s scheme. 

In later social media conversations with customers, Michel acknowledged “rug pull,” a term used to describe developers who collect money for a project but then abscond with it. However, Michel claimed that the poisonous NFT community was to blame.

We never intended to rug but the community went way too toxic.

Michel quoted in a Department of Justice release

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