Developer of Mutant Ape Planet series of NFTs pleads guilty to fraud and agrees to pay $1.4 million fine

According to the US Department of Justice (DOJ), Aurelien Michel, the developer of the MAYC imitation game Mutant Ape Planet NFT, pleaded guilty to a fraud case involving about $3 million in the US federal court. Michel is a French citizen residing in the United Arab Emirates. He was arrested in New York earlier this year on suspicion of fraudulently obtaining $2.9 million. The US prosecutor in the Eastern District of New York stated that Michel faces up to 5 years in prison and has agreed to pay a confiscation fine of $1.4 million. （CoinDesk）