Braden John Karony, the former CEO of cryptocurrency company SafeMoon, was convicted by a New York federal jury on May 21 on all three criminal counts: conspiracy to commit securities fraud, wire fraud, and money laundering, including conspiracy to defraud the United States. The charges stem from a multi-million dollar scheme in which Karony and his co-conspirators misled investors about SafeMoon's liquidity pool and looted over $40 million from the company. Prosecutors presented evidence during the 12-day trial that Karony and others falsely claimed SafeMoon's liquidity pool was locked and inaccessible to company insiders, while in reality, they retained access and diverted funds. These funds were used to purchase luxury vehicles, including an Audi R8 and Tesla, as well as multiple properties. Karony personally obtained over $9 million in crypto assets from the scheme. SafeMoon, launched in 2021, once reached a market capitalization of over $8 billion. The jury ordered the forfeiture of one residential property and proceeds from the sale of another, totaling approximately $2 million. Karony is the second former top leader of SafeMoon to be convicted, while the company's founder remains a fugitive. Karony faces up to 45 years in prison. One co-conspirator, Thomas Smith, previously pleaded guilty and is awaiting sentencing, while another, Kyle Nagy, remains at large. The case was prosecuted by the U.S. Attorney's Office for the Eastern District of New York, with assistance from the FBI, IRS Criminal Investigation, and Homeland Security Investigations.