The post SafeMoon Executives were indicted for allegedly defrauding investors! appeared first on Coinpedia Fintech News

Three executives from SafeMoon LLC have been indicted for allegedly defrauding investors in the decentralized finance digital asset. Braden John Karony, Kyle Nagy, and Thomas Smith have been charged with conspiracy to commit securities fraud, wire fraud, and money laundering conspiracy. The executives fraudulently diverted and misappropriated millions of dollars of the purportedly “locked” SafeMoon liquidity for their personal benefit. The market capitalization of SafeMoon grew to more than $8 billion. The defendants bought luxury vehicles and real estate and made personal investments with the misappropriated funds. The case is being handled by the Office’s Business and Securities Fraud Section.