SafeMoon’s Ex-CEO convicted in crypto fraud case
The post SafeMoon’s Ex-CEO convicted in crypto fraud case appeared on BitcoinEthereumNews.com. A US federal jury has convicted Braden Karony, former CEO of digital asset company SafeMoon, on all charges in a cryptocurrency fraud case. Prosecutors argued that Karony’s actions resulted in the misappropriation of millions of dollars from investors. Following a 12-day trial before US District Judge Eric R. Komitee, Korony was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. He faces up to 45 years in prison when sentenced. The jury took only a few hours to reach their decision after a trial that lasted about two weeks, during which Karony insisted he was innocent. A jury also ordered the forfeiture of one residential property and the proceeds from the sale of another, amounting to roughly $2 million. According to prosecutors, the scheme undermined investor confidence in digital assets and contributed to broader concerns about fraud in the crypto market. “The SafeMoon digital asset was anything but safe and turned out to be pie in the sky for investors who were deliberately misled by Karony, a man who sought to get rich quick by stealing and diverting millions of dollars,” US Attorney Joseph Nocella, Jr. said in a statement. Jury finds Karony guilty of conspiracy, money laundering, and wire fraud In the US District Court for the Eastern District of New York, the jury determined that Karony was involved in a conspiracy to defraud the United States, as well as money laundering and wire fraud. Both prosecutors and defense attorneys presented their arguments during the trial that began with jury selection on May 5. The criminal trials against the executive of a cryptocurrency company were widely viewed as a bellwether for how Joseph Nocella, the acting US Attorney for the district, would approach cases of digital assets and fraud. Nocella, a Donald Trump nominee, began serving…
The post SafeMoon’s Ex-CEO convicted in crypto fraud case appeared on BitcoinEthereumNews.com.
A US federal jury has convicted Braden Karony, former CEO of digital asset company SafeMoon, on all charges in a cryptocurrency fraud case. Prosecutors argued that Karony’s actions resulted in the misappropriation of millions of dollars from investors. Following a 12-day trial before US District Judge Eric R. Komitee, Korony was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering. He faces up to 45 years in prison when sentenced. The jury took only a few hours to reach their decision after a trial that lasted about two weeks, during which Karony insisted he was innocent. A jury also ordered the forfeiture of one residential property and the proceeds from the sale of another, amounting to roughly $2 million. According to prosecutors, the scheme undermined investor confidence in digital assets and contributed to broader concerns about fraud in the crypto market. “The SafeMoon digital asset was anything but safe and turned out to be pie in the sky for investors who were deliberately misled by Karony, a man who sought to get rich quick by stealing and diverting millions of dollars,” US Attorney Joseph Nocella, Jr. said in a statement. Jury finds Karony guilty of conspiracy, money laundering, and wire fraud In the US District Court for the Eastern District of New York, the jury determined that Karony was involved in a conspiracy to defraud the United States, as well as money laundering and wire fraud. Both prosecutors and defense attorneys presented their arguments during the trial that began with jury selection on May 5. The criminal trials against the executive of a cryptocurrency company were widely viewed as a bellwether for how Joseph Nocella, the acting US Attorney for the district, would approach cases of digital assets and fraud. Nocella, a Donald Trump nominee, began serving…
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