Yesterday, the SEC opened a case against crypto project Safemmon, citing its executives of concocting a massive fraudulent scheme through the sale of unregistered securities, causing billions of dollars in losses to US investors.
On the same day, the DOJ, following the regulator’s investigation, arrested Safemoon’s CEO and CTO for wire fraud, securities fraud, embezzlement, and money laundering.
Specifically, high-ranking members of the Safemoon team allegedly used $200 million of investor property to purchase luxury cars and homes after they described the same funds as “locked”.
As a result of this affair, the SFM token plummeted 60% to its lowest value ever. Are we at the end of the line for this shitcoin?
Let’s see all the details below.
SEC and DOJ charge Safemoon team with fraud and embezzlement: the CEO and CTO of the crypto project are in trouble
Bad news for Safemoon and its team: the Securities and Exchange Commission (SEC) has opened a civil case against the execut
We współpracy z: https://en.cryptonomist.ch/2023/11/02/sec-safemoon-executives-arrested-crypto-fraud/
