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A New York jury found Braden John Karony, the former CEO of cryptocurrency company SafeMoon, guilty of three felony charges after less than a day of deliberation.

According to May 21 reporting from the courtroom, in the US District Court for the Eastern District of New York, a jury convicted Karony of conspiracy to defraud the United States, money laundering, and wire fraud. Prosecutors and defense lawyers presented their cases over the roughly two-week trial that kicked off with jury selection on May 5.

Karony, former chief technology officer, Thomas Smith, and the platform’s creator, Kyle Nagy, were charged in 2023 for having allegedly “diverted and misappropriated millions of dollars’ worth” of SafeMoon’s SFM token. Smith testified against Karony at trial, while Nagy reportedly fled to Russia and was at large as of May 21.

The criminal trial involving a cryptocurrency company executive was seen by many as a bellwether for how Joseph Nocella, the interim US Attorney for the district, could handle cases involving digital assets and fraud. Nocella, a Donald Trump appointee, took office on May 5.

This is a developing story, and further information will be added as it becomes available.

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