Former SafeMoon Leader, Braden Karony, Convicted of Fraudulent Activities and Money Laundering

Braden John Karony, the ex-CEO of SafeMoon, has been found guilty of securities fraud, wire fraud, and money laundering by a federal jury in Brooklyn. The verdict comes after a 12-day trial and an 18-month investigation into a high-profile cryptocurrency fraud case.

Prosecutors accused Karony and his team of deceiving investors by falsely stating that SafeMoon's liquidity pool was locked, whilst they were secretly siphoning millions from it. Evidence demonstrated Karony used investor money to buy luxury cars and properties. The conviction includes forfeiture of assets worth around $2 million.

Karony now faces a potential 45-year prison sentence. SafeMoon declared bankruptcy in December 2023.