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Braden John Karony, former CEO of SafeMoon, has been found guilty of conspiracy to commit securities fraud, wire fraud, and money laundering. The verdict follows an 18-month investigation into one of the most notorious crypto fraud cases. Prosecutors revealed Karony misused investor funds for luxury purchases while deceiving the public.
- Karony misappropriated investor funds to buy luxury cars (Audi R8, Tesla) and Utah real estate.
- Former CTO Thomas Smith admitted to orchestrating false public statements to manipulate SafeMoon’s token price.
- SafeMoon filed for Chapter 7 bankruptcy in December 2023 amid the fraud investigation.
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