A jury in New York concluded that Braden John Karony, former CEO of the cryptocurrency company SafeMoon, committed three serious crimes just after less than a day of deliberation. On May 21, at the Eastern District Court of New York, Karony was convicted of conspiracy to defraud the United States, money laundering, and online fraud. Prosecutors and defense attorneys presented their arguments throughout approximately two weeks of trial, starting from May 5.
Both Karony, former technology director Thomas Smith, and platform founder Kyle Nagy were charged in 2023 for allegedly "embezzling and misusing millions of dollars from SafeMoon's SFM Token". Smith testified against Karony during the trial, while Nagy was reportedly fled to Russia and remained at large as of May 21.
The criminal trial involving a cryptocurrency company leader is widely seen as a test for Joseph Nocella, the temporary U.S. Attorney for this region, in handling cases related to digital assets and fraud. Nocella, appointed by Donald Trump, took office on May 5.
This case is developing and additional information will be updated when available.
