Coinspeaker
DoJ Arrests SafeMoon Executives on Account of Fraud
The US Department of Justice (DOJ) has taken legal action against the executive team of SafeMoon, accusing them of orchestrating significant fraud against the project’s investors. This case has also drawn attention from the Securities and Exchange Commission (SEC), which initiated actions on the same day. Also, the SEC is looking at the securities sales of the SAFEMOON token.
On Wednesday, November 1, the DOJ has arrested SafeMoon CEO John Karony and Chief Technology Officer Thomas Smith. According to allegations outlined in the SEC’s complaint, the SafeMoon executive team faces charges of withdrawing over $200 million from the project and misusing investor funds for personal purposes. Speaking on the development, Breon Peace, U.S. Attorney for the Eastern District of New York said:
“As alleged, the defendants deliberately misled investors and diverted millions of dollars to fuel their greedy scheme and enrich themse
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