Braden John Karony Declares Innocence
Braden John Karony, the former CEO of SafeMoon, has publicly declared his innocence in a recent social media statement, as he confronts charges of fraud and money laundering in a trial that commenced in New York. In a surprising turn, he alleged that Kyle Nagy, the founder of SafeMoon, bears responsibility for some fraudulent activities. Reports indicate that Nagy has fled to Russia following the filing of charges against him.
Trial Proceedings and Allegations
On the trial’s inaugural day, which included jury selection, witnesses such as former SafeMoon Chief Technology Officer, Thomas Smith, and a victim of the alleged fraud were present in court to testify against Karony. The ex-CEO has maintained a plea of not guilty to various conspiracy allegations that encompass securities fraud, wire fraud, and money laundering. Since February 2024, he has been free on a $3 million bail.
Anticipated Legal Developments
The legal proceedings are anticipated to extend until May 26, with the case drawing attention due to the rarity of public comments from cryptocurrency executives who are under criminal investigation.
Other Notable Cases in Cryptocurrency Sector
In other developments within the cryptocurrency sector, the United States District Court for the Southern District of New York is set to sentence Alex Mashinsky, the former CEO of Celsius, on May 8, following his guilty plea to two felony charges. Prosecutors are pushing for a significant sentence of 20 years in prison for Mashinsky.
