Former SafeMoon CEO denies allegations, accuses founder on first day of trial.

Odaily News After the trial related to fraud and Money Laundering involving former SafeMoon CEO Braden John Karony began in New York, he posted on social media claiming his innocence and accusing SafeMoon founder Kyle Nagy of being responsible for some of the fraudulent activities. Reports indicate that Nagy fled to Russia after the authorities filed charges. On the first day of the trial, after the jury was selected, former SafeMoon Chief Technology Officer Thomas Smith appeared in court as a prosecution witness alongside a victim. Karony has pleaded not guilty to multiple conspiracy charges including securities fraud, wire fraud, and Money Laundering, and has been released on a $3 million bail since February 2024. The case is expected to last until May 26. It is worth noting that individuals in the crypto industry who usually face criminal charges rarely make public comments before the case concludes. Meanwhile, the U.S. Southern District Court of New York will sentence former Celsius CEO Alex Mashinsky, who pleaded guilty to two felony charges, on May 8, with prosecutors recommending a 20-year prison sentence. (Cointelegraph)