SafeMoon

A federal court ordered Braden Karony to be detained pending his transfer to the Eastern District of New York (EDNY) where the SafeMoon CEO faces crypto fraud charges.

New York Judge denies bail for SafeMoon CEO

According to court documents dated Nov. 9, a judge has partially granted U.S. prosecutors’ request to counter the bail of John Karony, the CEO of crypto platform SafeMoon. A filing from New York prosecutors indicates that a Utah magistrate judge, Daphne A. Oberg, issued Karony’s release order on Nov. 8. Karony’s bail included a $500,000 […]
The post SafeMoon CEO John Karony’s bail postponed while courts assess level of flight risk appeared first on CryptoSlate.

SafeMoon CEO John Karony’s bail postponed while courts assess level of flight risk

Judge LaShann DeArcy Hall of the U.S. District Court for the Eastern District of New York suspended the bail release order of SafeMoon’s CEO, Braden John Karony, on Thursday. This decision came after federal prosecutors challenged Utah Magistrate Judge Daphne A. Oberg’s approval of Karony’s release on $500,000 bail. The prosecutors argued the magistrate’s oversight […]
The post SafeMoon CEO John Karony’s Bail On Hold as Feds Challenge Decision appeared first on Coin Edition.

SafeMoon CEO John Karony’s Bail On Hold as Feds Challenge Decision

SafeMoon CEO Braden John Karony has been denied bail due to the arguments put forth by federal prosecutors that he is a potential flight risk and a possible danger to the community.

SafeMoon CEO Deemed Flight Risk, Denied Bail

U.S. prosecutors claim SafeMoon CEO Braden John poses “serious risks of flight.” SafeMoon (SFM) CEO Braden John will not get a quick resolution of his case as prosecutors have secured a hold on his bail release, citing flight risk concerns.…

SafeMoon’s CEO release bail on hold as he still poses risks


                    
                    Prosecutors argued SafeMoon CEO Braden John Karony poses a flight risk given his alleged access to funds and overseas connections.
                    United States federal prosecutors have managed to put SafeMoon CEO Braden John Karony’s bail release order on hold, citing flight risk and his release being a possible “danger to the community.On Nov. 9, New York District Judge LaShann DeArcy Hall stayed a Nov. 8 bail release order after prosecutors challenged a Utah Magistrate judge’s decision to let Karony out on a $500,000 bail.Prosecutors made the challenge to Judge Daphne Oberg’s decision in New York, saying the release order was given “without consideration of the defendant’s substantial financial means and ability to flee” and added his release posed a “continued danger to the community.”“If convicted, the defendant faces a statutory maximum of 45 years’ imprisonment,” prosecutors wrote. “These facts all provide powerful incentives for the defendant to leverage his substantial (and opaque) financial assets and foreign ties to avoid that outcome.”Judge Oberg’s Nov. 8 order would have permitted Karony to stay at his Miami apartment and barred him from accessing crypto exchanges or wallets, holding or transacting crypto and banned him from engaging in promotional activities.Prosecutors however claimed the Utah court overlooked Karony’s assets when setting his bail at $500,000. They alleged the SafeMoon chief provided “almost no information concerning his finances” and claimed he can access “assets totaling millions of dollars.”Karony also has “substantial and ever-expanding” overseas ties and has spent months outside the U.S. in Europe and the United Kingdom with his fiancée, a British citizen and resident, prosecutors alleged.Prosecutors also asked the court to transport Karony to New York and have him detained there which Judge Hall will consider at a later date.Related: SafeMoon addresses recent exploits amid SEC chargesKarony was arrested on Oct. 31 at Salt Lake City International Airport and was charged alongside SafeMoon creator Kyle Nagy and chief technology officer Thomas Smith with conspiracy to commit securities and wire fraud and money laundering conspiracy. The Securities and Exchange Commission also charged the trio with various fraud charges and unregistered securities sales and alleged they misappropriated funds to purchase SafeMoon (SFM) tokens to prop up its price.SafeMoon technology chief Thomas Smith was released on a $500,000 bond on Nov. 3 and is pursuing a plea deal while the Department of Justice said Nagy remains at large.Magazine: Deposit risk: What do crypto exchanges really do with your money?







SafeMoon CEO bail release goes on hold after Feds cite flight risk

SafeMoon executives withdrew $200 Million from the project!
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SafeMoon Execs Arrested By DOJ for Fraud

The SEC has charged crypto company SafeMoon with offering crypto securities, and is also going after the executive team for alleged massive fraud.