Ex-SafeMoon CEO Braden Karony Guilty of Massive Crypto Scam!

Jury Delivers Verdict: Fraud, Luxury, and a Fall from Grace

Holy smokes, folks! Braden Karony, the slick former CEO of SafeMoon, has been nailed by a New York federal jury for pulling off one heck of a crypto fraud. We're talking guilty on all counts - conspiracy to commit securities fraud, wire fraud, and money laundering. This guy thought he could play the system, but justice caught up!

Karony and his crew straight-up lied to investors about how SafeMoon worked, all while dipping their hands into the cookie jar. The Department of Justice dropped a bombshell in their press release, revealing that Karony used the stolen dough to live large. We're talking multiple houses, flashy sports cars, custom trucks, and all the luxury you can imagine. Talk about a spending spree!

U.S. Attorney Joseph Nocella didn't hold back, saying, "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. Karony used his scheme to purchase multiple homes, sports cars, custom trucks, and other luxury goods."

Boom! SafeMoon's token (SFM) took a nosedive, dropping 7% to a measly $0.00001925 after the verdict. It's been a wild ride, with the token down a staggering 99.7% from its all-time high just three years back. Ouch!

But wait, there's more! Karony wasn't working alone. He had co-conspirators Thomas Smith and Kyle Nagy, who allegedly drained SafeMoon's liquidity pools while claiming they were "locked." Smith flipped, pleaded guilty, and spilled the beans on Karony. As for Nagy? He's on the run, last heard of in Russia. The plot thickens!

Get this - Karony raked in over $9 million from his scheme, splurging on a $2.2 million Utah mansion, more properties, and a garage full of luxury rides, including two Audi R8s, a Tesla, and custom trucks. Living the high life while investors got burned. Now, he's facing up to 45 years behind bars. Sentencing date? Still up in the air, but you know we'll be watching!