Former Safemoon CEO Braden John Karony Convicted against all criminal counts against him: conspiracy to commit securities fraud, conspiracy to commit wire fraud, and conspiracy to commit money laundering.
According to Coingecko, Safemoon was a temporary popular project, reaching its largest market capitalization of around $1 billion before it collapsed.
Kalanie’s misrepresentation to investors in the project included critically, so-called locked liquidity pools in token promotions.
Kalani and the other Safemon leaders Rescinded tens of millions of dollars worth Despite describing them as locked from these pools.
Read more: Safemoon CEO Defense claims there was no conspiracy among executives
Karony’s defense failed to argue that there was no conspiracy among the leaders of the scheme.
Thomas Smith, one of the conspirators who has already pleaded guilty and worked with the government, testified against Kalaney in the first half of the trial.
Smith’s testimony emphasized that the leaders of the project are happy to use liquidity on things that are “not an emergency,” and after receiving funds from the liquidity pool, he described his own moment of corruption, saying, “I became that monster.”
Karony’s ruling is still here.
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