SafeMoon founder Braden Karony sentenced to 100 months in prison for crypto fraud
SafeMoon founder Braden Karony received a 100-month prison sentence for securities fraud, wire fraud, and money laundering.Summary
Braden Karony, the former CEO of SafeMoon, was sentenced to 100 months in federal prison for his role in a crypto fraud scheme involving the project's liquidity pool. A jury previously convicted him of securities fraud, wire fraud, and money laundering after prosecutors proved he misappropriated over $9 million in investor funds, which he claimed were locked, using the money for personal gain and engaging in manipulative trading to inflate the SFM token price. The sentence was handed down by U.S. District Judge Eric Komitee after considering both defense arguments about Karony's background and victim testimony regarding financial losses. SafeMoon, launched in 2021, marketed itself as a community-driven DeFi token that reached a multibillion-dollar market cap amid heavy promotion, but regulators alleged the team used investor funds for personal benefit. The project filed for Chapter 7 bankruptcy after the SEC and DOJ filed charges in late 2023, and Karony's conviction is noted as one of the most visible criminal cases involving a meme coin.
(Source：Crypto Briefing)