The U.S. Department of Justice Confirms Continuation of Fraud Case Against Former SafeMoon CEO

On April 21st, according to a report by law360.com citing documents filed last Friday by the U.S. Department of Justice (DOJ), it was stated that while the DOJ during the Trump era had pushed to reduce enforcement on cryptocurrencies, it has not prevented federal prosecutors from pursuing the former CEO of SafeMoon, Braden Karony. Karony faces fraud charges related to the collapse of the token. He is set to go on trial in May, which will serve as a crucial test of whether the DOJ's new stance will shield executives from accusations of past alleged misconduct. On April 18th, federal prosecutors in the Eastern District of New York confirmed they will continue to pursue the lawsuit. Karony is charged with conspiracy to commit securities fraud, wire fraud, and money laundering, and has pleaded not guilty, having been out on a $3 million bail since February. Earlier on April 10th, it was reported that the SafeMoon CEO had once again filed to dismiss the lawsuit, citing the DOJ disbanding the cryptocurrency division as a reason.