Former SafeMoon CEO denies charges, accuses founder on first day of trial

CoinRank News: Former SafeMoon CEO Braden John Karony posted on social media that he was innocent after the New York fraud and money laundering trial began, and accused SafeMoon founder Kyle Nagy of being responsible for part of the fraud. Nagy reportedly fled to Russia after authorities filed charges. On the first day of the trial, after the jury was selected, former SafeMoon CTO Thomas Smith appeared in court as a prosecution witness with a victim. Karony previously pleaded not guilty to multiple conspiracy charges including securities fraud, wire fraud and money laundering, and has been released on $3 million bail since February 2024. The case is expected to last until May 26. It is worth noting that people in the crypto industry, who usually face criminal charges, rarely comment publicly until the case is over. Meanwhile, the United States District Court for the Southern District of New York will sentence former Celsius CEO Alex Mashinsky, who pleaded guilty to two felony charges, on May 8, and prosecutors recommend a 20-year prison sentence. (Cointelegraph)