SafeMoon executive team charged with multiple fraud counts, arrests made

The USA Securities and Trade Fee (SEC) introduced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities gross sales in reference to its SafeMoon token. The Justice Division unsealed expenses towards the boys on the similar time. 

In response to SEC allegations, SafeMoon creator Kyle Nagy, CEO John Karony and chief expertise officer Thomas Smithwithdrew belongings price $200 million from the challenge and misappropriated investor funds. The Justice Division is charging the boys with conspiracy to commit securities fraud, conspiracy to commit wire fraud and cash laundering conspiracy.

Karony and Smith have been arrested, based on the Justice Division announcement, whereas Nagy stays at massive.

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