SafeMoon CEO Guilty of Crypto Fraud, Faces 45 Years

A federal jury has convicted SafeMoon CEO Braden John Karony of fraud, linked to a scheme defrauding investors of millions. Karony faces up to 45 years in prison for conspiracy to commit securities fraud, wire fraud, and money laundering, per the U.S. Attorney's Office for the Eastern District of New York. SafeMoon LLC launched digital assets in 2021 that once reached over $8 billion in market cap with a 10% tax on transfers. Promises that fees would be 'locked' in a liquidity pool were false; Karony and accomplices diverted funds for personal use. Prosecutors allege company execs secretly traded SafeMoon for illicit profits, concealing actions through hidden wallets and pseudonymous accounts. Karony allegedly amassed over $9 million, buying luxury items. Co-conspirator Thomas Smith pled guilty; Kyle Nagy remains at large. Karony maintains his innocence online.