Ex-SafeMoon CEO gets 8-year prison sentence for defrauding investors

Former SafeMoon CEO Braden John Karony received a 100-month (eight-year) prison sentence in the U.S. District Court for the Eastern District of New York after being convicted on federal charges related to defrauding investors in his digital assets operation. In addition to the prison time, Karony must pay $7.5 million in restitution and forfeit two residences. Prosecutors stated Karony lied to investors to fund a lavish lifestyle, including purchasing mansions and sports cars. He was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering for manipulating the SafeMoon token's price and illicitly controlling liquidity pools. A co-conspirator, Thomas Smith, pleaded guilty, while another, Kyle Nagy, remains wanted.

(Source：CoinDesk)