SafeMoon CEO Found Guilty in US Crypto Fraud Trial
Braden Karony, CEO of SafeMoon, was found guilty by a U.S. federal jury of conspiracy to commit securities fraud, wire fraud, and money laundering, leading to the misappropriation of millions in investor funds. He faces up to 45 years in prison. The jury ordered the forfeiture of a residential property and proceeds from another, totaling approximately $2 million. Prosecutors claimed Karony misled investors about SafeMoon's structure and safety, while retaining access to a liquidity pool and diverting funds for personal use. He allegedly concealed trading activities through pseudonymous wallets and obtained over $9 million in crypto assets. One co-defendant has pleaded guilty, while another remains at large. The investigation involved the FBI, IRS Criminal Investigation, and Homeland Security Investigations, highlighting concerns about fraud in the crypto market.
