Braden John Karony, ex-CEO of SafeMoon, just got hit with a big “guilty on all counts” from a New York federal jury. The charges? Conspiracy to commit securities fraud, wire fraud, and money laundering, basically, the full crypto scam starter pack.
According to the Department of Justice, Karony and his crew hoodwinked investors about how SafeMoon really worked and turned their funds into a personal shopping spree. The guy splurged on multiple homes, sports cars, custom trucks, and all the luxury toys you’d expect from a fraudster living large.
“As proven at trial, 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,” said U.S. Attorney Joseph Nocella.
Token Tumble and Fugitive Drama
Unsurprisingly, SafeMoon’s token (SFM) took a nosedive, dropping 11% to $0.0000176 right after the verdict, continuing its meltdown, now down a staggering 99.7% from its peak three years ago.
Karony wasn’t alone in this ride: co-defendants Thomas Smith and Kyle Nagy also took part. Smith pleaded guilty and ratted Karony out, but Nagy pulled a disappearing act and reportedly fled to Russia.
Karony’s personal haul? Over $9 million, including a $2.2 million Utah mansion, more properties, two flashy Audi R8s, a Tesla, and custom trucks. Now, he’s staring down the barrel of a potential 45-year sentence. No sentencing date set yet, but it won’t be a party.
Kristian Koch
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