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CTO SafeMoon pleaded guilty to $200 million in crypto fraud!
SafeMoon LLC Chief Technology Officer (CTO) Thomas Smith has changed his plea and pleaded guilty to two counts of fraud. He admitted to participating in a scheme to defraud SafeMoon investors of $200 million.
Smith reportedly faces up to 45 years in prison for charges including conspiracy to commit wire fraud (20 years) and securities fraud (25 years).
Prosecutors allege that SafeMoon management misled investors by claiming that the token's liquidity was locked. In reality, they had access to it. The funds received, according to the prosecution, were used to buy luxury real estate and cars.