Thomas Smith, the chief technology official at the former Safemoon Company (CTO), has acknowledged that he is guilty of charges related to a $ 200 million fraud scheme linked to the controversial encryption project.
On February 20 / at the time, the project rejected fears as an unfounded fear, uf and doubt (FUD).
However, Smith has now admitted misleading investors about Safemoon’s liquidity and faces the maximum of 20 years of conspiracy of wire fraud and 25 years of secremia fraud.
At the same time, his acceptance is a transformation from his previous indirect call in a case that involves deceiving the investor and embezzlement of money.
However, the court will consider his cooperation during the investigation when determining his sentence.
SEC accusations against Safemoon
Smith Al -Mistin’s declaration follows the leadership of the US Securities and Stock Exchange Committee (SEC) in November 2023 in the leadership team of the encryption project, which he included, the CEO of Safemoon Braden John Karrony, and the project creator Kyle Nagy.
The financial agency accused them of multiple federal laws, including fraud, conspiracy and money laundering.
The organizers accused them of Safemoon marketing falsely as a safe investment with a closed liquidity group. However, the investigators later discovered that the team had an unrestricted access to this money, as it exceeded 200 million dollars for personal expenses.
Reports indicate that luxury cars funded from funded funds, death and other high -end purchases.
The authorities also claimed that Safemoon executives dealt with trading activity to create a false sense of demand. While Smith admitted guilt, Karuni continued to deny the charges, and Naji remains as a whole.
Safemoon Memecoin
Smith’s admission of the comet comes at a time when the project is subject to restructuring after being acquired by a new entity.
On February 14, the new Safemoon team announced that its community is fully controlled by the project.
The team plans to launch the Solana -based Mimikoen as part of the revival strategy. The project will be driven by society, and determines the priority to participate without pre -determined interest.
Male of the project:
“Safemoon is a Mimi currency. This was what should have been from the first day. There are no complicated promises, no compulsive benefit – just a movement. Because at the heart of every legendary Mimi currency is a simple and attractive idea. .
Meanwhile, the team warned the investors not to be careful, focusing that they have not yet issued the title of the official contract for the new symbol.
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