Mutant Ape Planet Fraudster Avoids Prison for NFT Scam (1)

A French national who sought to exploit the frenzy for nonfungible tokens in 2022 by selling his “Mutant Ape Planet” digital assets avoided prison for defrauding buyers after a judge said it was difficult to determine how much they’d actually lost.

Aurelien Michel, 26, pleaded guilty in November to wire fraud conspiracy, admitting he falsely promised thousands of NFT buyers “exclusive” benefits to boost the value of his neon-colored digital depictions of cartoon monkeys. Instead, he abandoned the project after he’d raised $2.9 million, said prosecutors in the office of US Attorney Breon Peace in Brooklyn, New York.

US District ...