Former SafeMoon CEO Sentenced to 8 Years in Prison for Defrauding Investors
Odaily News The former CEO of SafeMoon, Braden John Karony, who has been convicted, has been sentenced to 100 months (approximately 8 years) in prison. He has also been ordered to pay $7.5 million in restitution and forfeit two properties.
Prosecutors alleged that Karony, along with accomplices, illegally siphoned millions of dollars from the project by manipulating the SafeMoon token price and its liquidity pool. The funds were used for personal luxury expenses, including purchasing mansions and luxury cars. After a three-week trial, Karony was found guilty on multiple federal charges, including conspiracy to commit securities fraud, wire fraud, and money laundering.
Among the individuals involved in the case, co-conspirator Thomas Smith pleaded guilty in February 2025 but has not yet been sentenced. Another individual involved, Kyle Nagy, remains at large. U.S. prosecutors stated that they will continue to strengthen enforcement against economic crimes in the digital asset space that harm investor interests. (Coindesk)
