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The creator of Mutant Ape Planet was arrested by police in New York and charged with fraudulently defrauding investors of $2.9 million through a "rug pull scheme."
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The arrest was made in January. 4, at John F. Kennedy International Airport in New York, with homeland security agent Ivan J.
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Arvelo claims that French National "Aurelien Michel perpetrated a rug pull scheme" and took "nearly $3 million from investors for his personal use."
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“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.”
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Internal Revenue Service agent Thomas Fattorusso was quoted in a press release by the Department of Justice as saying that..
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"Michel defrauded investors by making false representations of, amongst other things giveaways, tokens with staking features, and merchandise collections."
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However, Michel removed the funds after the non-fungible tokens (NFTs) were exhausted, The report states.