Former SafeMoon CEO Braden John Karony Found Guilty on Three Felony Charges

A New York jury found Braden John Karony, the former CEO of cryptocurrency company SafeMoon, guilty of three felony charges after less than a day of deliberation.

A jury in New York has found former cryptocurrency company SafeMoon CEO Braden John Karony guilty of three felony charges, it has been reported.

After less than a day of deliberation, the jury in the US District Court for the Eastern District of New York reached a verdict on Monday, according to the New York Law Journal.

Karony was convicted of conspiracy to defraud the United States, money laundering, and wire fraud.

The seven-member jury began deliberations on Monday morning, quickly reaching a verdict in the case, which kicked off with jury selection on May 5.

Prosecutors and defense lawyers presented their cases over the roughly two-week trial.

Karony, former chief technology officer Thomas Smith, and the platform’s creator, Kyle Nagy, were charged in 2023 for allegedly “diverting and misappropriating millions of dollars’ worth” of SafeMoon’s SFM token.

Smith testified against Karony at trial, while Nagy reportedly fled to Russia and is still at large.

The criminal trial involving a cryptocurrency company executive was seen by many as a bellwether for how Joseph Nocella, the interim US Attorney for the district, could handle cases involving digital assets and fraud.

Trump appointee Nocella took office on Friday.

This is a developing story, and further information will be added as it becomes available.