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Ex-SafeMoon CEO Braden Karony Sentenced to 8 Years for Crypto Fraud

Ex-SafeMoon CEO Braden Karony Sentenced to 8 Years for Crypto Fraud

Author:

Global Cryptocurrency

Published:

2026-02-12 11:21:01

22

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BTCCSquare news:

Braden John Karony, the former CEO of SafeMoon, has been sentenced to eight years in federal prison following convictions for fraud and money laundering. A jury found him guilty after a three-week trial in May 2025, concluding he deceived thousands of investors to fund a lavish lifestyle.

The court ordered Karony to forfeit two residential properties and approximately $7.5 million in illicit gains. U.S. Attorney Nocella emphasized the scheme's broad impact, targeting investors across demographics while financing luxury homes, vehicles, and custom trucks.

Co-conspirator Thomas Smith awaits sentencing after pleading guilty, while Kyle Nagy remains at large. The case underscores regulatory scrutiny of cryptocurrency projects making unrealistic promises to retail investors.

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