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America Securities and Change Fee (SEC) announced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities gross sales in reference to its SafeMoon token. The Justice Division unsealed costs in opposition to the boys on the similar time.
Based on SEC allegations, SafeMoon creator Kyle Nagy, CEO John Karony and chief know-how officer Thomas Smithwithdrew belongings value $200 million from the venture and misappropriated investor funds. The Justice Division is charging the boys with conspiracy to commit securities fraud, conspiracy to commit wire fraud and cash laundering conspiracy.
Karony and Smith have been arrested, in response to the Justice Division announcement, whereas Nagy stays at massive.
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