The US government has formally arrested the founders of the SafeMoon crypto token, John Karony, Kyle Nagy, and Thomas Smith. Moreover, the Department of Justice (DOJ) apprehended the crypto company executives following US Securities and Exchange Commission (SEC) charges issued earlier Wednesday. According to an official release from the US Attorney’s Office of the Eastern District of New York, the executives have been charged in a “multi-million dollar international fraud scheme.” Indeed, Nagy, Karony, and Smith were the company’s founder, CEO, and chief technology officer, respectively.
The US government has arrested the founders of crypto token SafeMoon for misappropriating millions of dollars of investor funds. The release notes that the three founders used the funds to “purchase luxury vehicles, real estate, and personal investments.” Additionally, Karony, Nagy, and Smith are charged with “conspiracy to commit securities fraud, conspiracy to commit wire fraud, and money laundering” for their role in the scheme.
This is bad news for the crypto industry, as it highlights the importance of performing due diligence when investing in digital assets. The arrest of the SafeMoon founders serves as a reminder that crypto investors should always be aware of the risks associated with investing in digital assets.
This news highlights the importance of performing due diligence when investing in crypto assets. The arrest of the SafeMoon founders serves as a reminder that investors should always be aware of the risks associated with investing in digital assets. #SafeMoon #CryptoFraud #CryptoInvesting #SECCharges
You can read more about this topic here: Watcher Guru: US Government Arrests Founders of SafeMoon Crypto Token