SafeMoon CEO Convicted in $9M Crypto Fraud Case

Braden Karony, CEO of the embattled cryptocurrency project SafeMoon, faces up to 45 years in prison after a New York jury found him guilty on charges of securities fraud, wire fraud, and money laundering. Prosecutors revealed Karony siphoned millions from supposedly ’locked’ liquidity pools to fund personal luxuries.

The 12-day trial exposed how Karony orchestrated a scheme that misled investors about token safeguards while secretly accessing funds. ’This verdict sends a clear message that cryptocurrency executives aren’t above the law,’ said a Justice Department spokesperson following the conviction.

SafeMoon’s collapse marks another cautionary tale in the DeFi space, where promises of ’secured’ assets often prove illusory. The court has ordered forfeiture of Karony’s properties as partial restitution.