Source: Cointelegraph
Original: “Jury Finds Former SafeMoon CEO Guilty on All Charges”
A New York jury has found Braden John Karony, the former CEO of cryptocurrency company SafeMoon, guilty on three felony charges after less than a day of deliberation.
According to court reports on May 21, the jury in the U.S. District Court for the Eastern District of New York found Karony guilty of conspiracy to defraud the United States, money laundering, and wire fraud. Prosecutors and defense attorneys presented their cases over a trial that lasted about two weeks, which began with jury selection on May 5.
Karony, former Chief Technology Officer Thomas Smith, and platform founder Kyle Nagy were accused in 2023 of "misappropriating and abusing" SafeMoon (SFM) tokens worth millions of dollars. Smith testified against Karony during the trial, while Nagy reportedly fled to Russia and remained at large as of May 21.
The criminal trial involving executives of the cryptocurrency company is seen by many as a bellwether for how interim U.S. Attorney Joseph Nocella handles cases involving digital assets and fraud. Nocella was appointed by Trump and took office on May 5.
As of the time of publication, it is unclear when Karony will return to court for sentencing. He could face years in prison for his role in the SafeMoon fraud case. Reports indicate that Smith reached a plea deal with prosecutors and pleaded guilty, potentially receiving a lighter sentence.
Karony's trial follows the sentencing hearing for former Celsius CEO Alex Mashinsky in the Southern District of New York, where the judge sentenced Mashinsky to 12 years in prison after he pleaded guilty. Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison after being found guilty following a trial without pleading guilty in 2023.
Related: NYU Professor: Banking Lobby Groups Are "Panicking" Over Revenue-Generating Stablecoins
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