Thing is that one thing I believe about Peters is that he thought what he was doing was legitimate. I don't think he intentionally made fraudulent misrepresentations. I just think that he's one of these people that is so full of himself that he'd convinced himself that he could do what he could and used his self-confidence to convince others - but for some that wasn't enough. Some were smart enough to ask questions anyway.
I tend to think this as well; there's never been any intent to defraud with the aim of making a lot of money, here...just excitement about a passion project, real bad judgment with some wishful thinking and (yeah) enough arrogance in the mix to bulldoze common sense. I chatted with Alec over a group dinner in Georgia back in 2010, when he was just getting started on the whole Axanar thing. His demeanor in person is very different than the way he presents online - something I can relate to.He was quiet, friendly and earnest almost to the point of solemnity on that occasion.
I don't necessarily believe he was attempting fraud, but I can't believe that once being a lawyer, he wouldn't have realized he was stepping on very shaky ground with the level of copyright infringement he was undertaking or that this was a real possibility or that making this a full-time job and earning a salary for him and his girlfriend off of someone else's copyright was any kind of legal.