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CoinPhoton
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Former SafeMoon US CEO sentenced to over 8 years in prison
Braden John Karony, the former CEO of SafeMoon US LLC, has been sentenced to just over eight years in prison after prosecutors said he misled investors to fund a lavish lifestyle that included mansions, sports cars, and custom trucks.
Karony, 29, of Utah, was also ordered to forfeit about $7.5 million and two residential properties, according to the U.S. Attorneyās Office for the Eastern District of New York. Prosecutors and the FBI said Karony stole more than $9 million in digital assets from SafeMoon for personal use.
In May, a federal jury convicted Karony of conspiracy to commit securities fraud, wire fraud, and money laundering. SafeMoon, launched in 2021, once reached a market capitalization of more than $8 billion. Each SafeMoon transaction carried a 10% tax, which investors were told would partly go into locked liquidity pools.
U.S. prosecutors said Karony and his co-conspirators fraudulently diverted millions from those liquidity pools, using the funds to buy a $2.2 million home, an Audi R8, a Tesla, and a custom Ford F-550. One co-conspirator has pleaded guilty and is awaiting sentencing, while another remains at large.
Braden John Karony, the former CEO of SafeMoon US LLC, has been sentenced to just over eight years in prison after prosecutors said he misled investors to fund a lavish lifestyle that included mansions, sports cars, and custom trucks.
Karony, 29, of Utah, was also ordered to forfeit about $7.5 million and two residential properties, according to the U.S. Attorneyās Office for the Eastern District of New York. Prosecutors and the FBI said Karony stole more than $9 million in digital assets from SafeMoon for personal use.
In May, a federal jury convicted Karony of conspiracy to commit securities fraud, wire fraud, and money laundering. SafeMoon, launched in 2021, once reached a market capitalization of more than $8 billion. Each SafeMoon transaction carried a 10% tax, which investors were told would partly go into locked liquidity pools.
U.S. prosecutors said Karony and his co-conspirators fraudulently diverted millions from those liquidity pools, using the funds to buy a $2.2 million home, an Audi R8, a Tesla, and a custom Ford F-550. One co-conspirator has pleaded guilty and is awaiting sentencing, while another remains at large.
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