A U.S. federal jury found Braden John Caroni, CEO of the SafeMoon project, guilty of fraud, money laundering, and conspiracy. The maximum penalty is up to 45 years in prison.
The essence of the case:
In 2021, SafeMoon raised $8 billion, promising a 'locked liquidity pool.'
In contrast, Caroni withdrew millions to his own accounts through a chain of anonymous wallets.
Personal gain: over $9 million.
Purchased: elite real estate, Audi R8, Tesla.
The project collapsed, and investors lost money. Caroni is accused of deliberate fraud for personal enrichment. The prosecutor stated: 'SafeMoon became a pipe dream — and a trap for thousands of trusting investors.' The case highlights the risks of investing in projects without proper vetting and reminds of the need for transparency in the crypto industry.
What would you buy for $9 million? Share your thoughts! Stay updated on crypto news! Subscribe to #MiningUpdates to be in the know.
#Safemoon #CryptoFraud #blockchain #CryptoNews #Investing #Cybercrime
