Mansions and sports cars: former SafeMoon CEO sentenced to 8 years in prison for crypto scheme

Braden John Karony, the former CEO of SafeMoon US LLC, received a sentence of just over eight years in prison for a crypto scheme where he allegedly lied to investors to fund a lavish lifestyle, including mansions and sports cars. Karony, 29, was also ordered to forfeit approximately $7.5 million and two residential properties. In May, a federal jury convicted Karony of conspiracy to commit securities fraud, wire fraud, and money laundering related to the SafeMoon digital assets, which once reached an $8 billion market cap. Prosecutors stated that Karony fraudulently diverted millions from the 10% transaction tax—which was supposed to benefit holders—to fund personal purchases like a $2.2 million home, an Audi R8, and custom trucks. A co-conspirator, Thomas Smith, pleaded guilty and awaits sentencing, while another, Kyle Nagy, remains at large.

(Source：The Block)