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SafeMoon Developers Charged with Fraud

The Securities and Exchange Commission and Department of Justice filed a lawsuit against the founders of SafeMoon, a cryptocurrency once promoted by sports media personality Dave Portnoy. So reports The New York Post

The defendants, Kyle Nagy, Thomas Smith and Braden Karony are accused of using profits from the token’s creation, which spiked in value as much as 19,000% in 2021, to buy high-end cars and real estate. According to prosecutors, Smith and Karony were arrested, while Nagy remains at large.

Read the full article from The New York Post.

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