DOJ Charges SafeMoon Crypto Company Executives
The U.S. Department of Justice (DOJ) has charged SafeMoon's executive team with a massive investor fraud
Reportedly, SafeMoon CEO John Karony and CTO Thomas Smith are in custody, while creator Kyle Nagy remains at large
They are alleged to have withdrawn over $200 million from the project, diverting funds for personal use
The trio faces charges of securities fraud, wire fraud, and money laundering conspiracy
According to the DOJ, Smith allegedly purchased a Porsche 911 with these funds
Following this announcement, the SafeMoon token (SFM) experienced a drop of over 30%.