PANews reports on April 10th that according to Cointelegraph, SafeMoon CEO Braden John Karony recently cited the latest policy from the US Department of Justice in an attempt to overturn allegations of securities fraud. His defense lawyer Nicholas Smith stated in documents filed with the New York Federal Court on April 9th that according to the Department of Justice's new rules on April 7th, prosecutors should avoid using securities law provisions in cryptocurrency cases—unless the parties actively request asset classification, and Karony "explicitly stated no intention of self-incrimination".
In November 2023, the Department of Justice and SEC simultaneously filed charges against Karony and other SafeMoon executives for securities violations, wire fraud, and money laundering. This letter represents Karony's latest attempt to have the case dismissed. In February, he requested a postponement of the trial originally scheduled for March 31st, arguing that former President Trump's cryptocurrency policies might impact the case. Earlier in February, SafeMoon's Chief Technology Officer Thomas Smith admitted involvement in a $200 million cryptocurrency fraud case.
