* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, July 16, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Nordic Air Defence raises $3 million to expand operations and advance drone defence technology – Defence Industry Europe

    Nordic Air Defence Lands $3 Million to Transform Drone Defense and Supercharge Operations

    China’s energy dominance in three charts – MIT Technology Review

    How China Is Powering Its Energy Dominance: A Visual Breakdown

    Meta Acquires AI Startup PlayAI to Enhance Voice Technology Capa – GuruFocus

    Meta Acquires AI Startup PlayAI to Revolutionize Voice Technology Capabilities

    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

    Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Entertainment Business Master’s Grad Launched Nonprofit to Nurture Emerging Artists – Full Sail University

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Review: At the Huntington, the New Hollywood String Quartet recalls legendary studio musicians – Los Angeles Times

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Kehoe repeals paid sick leave, allows several counties in the Ozarks to have entertainment districts in bill signings – KY3

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    Emily Deschanel was scolded during “Bones” season 1 for being ‘late and unprepared’: ‘I was just beside myself’ – Yahoo

    How you can see new movies early – Yahoo

    Unlock the Secret to Watching New Movies Before Everyone Else!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Guest columnist: China cutting corners on technology – The State Journal

    China’s Rapid Tech Advances Spark Worries About Cutting Corners

    Sentrycs’ Cyber Over RF technology integrated into Rafael’s combat-proven Drone Dome system – Defence Industry Europe

    Sentrycs’ Cyber Over RF Technology Boosts Rafael’s Battle-Tested Drone Dome System

    Nordic Air Defence raises $3 million to expand operations and advance drone defence technology – Defence Industry Europe

    Nordic Air Defence Lands $3 Million to Transform Drone Defense and Supercharge Operations

    China’s energy dominance in three charts – MIT Technology Review

    How China Is Powering Its Energy Dominance: A Visual Breakdown

    Meta Acquires AI Startup PlayAI to Enhance Voice Technology Capa – GuruFocus

    Meta Acquires AI Startup PlayAI to Revolutionize Voice Technology Capabilities

    Stallion Uranium Provides Update on Technology Data Acquisition Agreement – GlobeNewswire

    Stallion Uranium Announces Exciting Progress in Technology Data Acquisition Agreement

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

SafeMoon Plummets as SEC, DOJ Hit SafeMoon Executives with Fraud Charges

November 2, 2023
in Business
SafeMoon Plummets as SEC, DOJ Hit SafeMoon Executives with Fraud Charges
Share on FacebookShare on Twitter

The SEC charged SafeMoon and its executives with fraud and illegal securities sale, alleging they deceived investors and misappropriated US $200 million.
The DOJ indicted SafeMoon executives for fraud and money laundering, asserting investor deception and personal enrichment from ‘locked’ funds.
Two of the executives have been arrested, while one remains at large, as the price of SafeMoon drops.

SEC Alleges Fraudulent Scheme

The U.S. Securities and Exchange Commission (SEC) has charged SafeMoon LLC, its creator Kyle Nagy, SafeMoon US LLC, CEO John Karony, and CTO Thomas Smith with conducting a fraudulent scheme. They are accused of the unregistered sale of SafeMoon, a crypto asset security, and misleading investors with promises of profitability. The scheme led to the loss of billions in market value and the personal misappropriation of over US $200 million (AU $311 million) in crypto assets by the defendants.

The SEC claims that the defendants lied about locking funds to ensure safety and instead used investor money for personal luxuries. The complaint also details how the price of SafeMoon surged and then plummeted after the truth about the liquidity pool was revealed, with the executives allegedly manipulating the market to stabilise the price afterwards.

Jorge G. Tenreiro, Deputy Chief of the CACU cautioned investors, saying,

We urge investors to continue to exercise extreme caution in this space, as fraudsters exploit the popularity of crypto assets to promise astronomical profits while all too frequently only delivering a crash landing.

Jorge G. Tenreiro

DOJ Adds Criminal Charges

At the same time the Department of Justice (DOJ) charged the three executives in a federal court in Brooklyn with multiple conspiracy charges, including securities fraud, wire fraud, and money laundering, related to their operation of SafeMoon LLC and the digital asset SafeMoon (SFM). They are accused of deceiving investors about the accessibility of SFM’s ‘locked’ liquidity and their personal dealings in SFM. Despite SafeMoon’s market cap reaching over US $8 billion (AU $12.45 billion), the defendants allegedly syphoned off millions in ‘locked’ liquidity for personal use.

The indictment details that, contrary to promises made to investors, the defendants used the misappropriated funds for personal luxuries such as a custom Porsche and other high-end purchases.

Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations (HSI) said,

Instead of rewarding their clients as promised, their insatiable greed led them to spend millions of dollars on their own lavish desires. Today, no luxury vehicles or sprawling real estate can protect them from the consequences of such crimes.

Ivan J. Arvelo

Arrests Made, Price Drops

Karony has been arrested in Utah, Smith in New Hampshire, while Nagy is still at large. U.S. Attorney Breon Peace, along with officials from the FBI, HSI, and IRS-CI, announced the arrests and emphasised the commitment of law enforcement to pursuing those who defraud investors in the digital asset space.

While the hunt for Nagy continues, Arvelo reiterated, “HSI New York will relentlessly pursue individuals who seek to exploit investors and the American financial system for their own gain.”

Source: CoinMarketCap

Meanwhile, the price of SFM plummeted by over 50%, just to slightly recover at the time of writing.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CryptoNews.com.au – https://cryptonews.com.au/news/safemoon-plummets-as-sec-doj-hit-safemoon-executives-with-fraud-charges-111296/

Tags: businessplummetsSafeMoon
Previous Post

Top Analyst Predicts Breakout Rally for XRP, Updates Outlook on Solana and Ethereum-Based Altcoin

Next Post

Spider-Man 2 Receives Bug-Squashing Update

Are Robust Financials Driving The Recent Rally In COTS Technology Co., Ltd.’s (KOSDAQ:448710) Stock? – simplywall.st

Is Strong Financial Performance Driving the Recent Surge in COTS Technology Co., Ltd. Stock?

July 16, 2025
Planned LaFollette sports complex to boost youth sports, local economy – WATE 6 On Your Side

Planned LaFollette sports complex to boost youth sports, local economy – WATE 6 On Your Side

July 16, 2025
The Bird Flu Story No One Is Telling – Scientific American

The Untold Story of Bird Flu: What You Need to Know

July 15, 2025
Combining science and policy for a unified global soil biodiversity observatory – Nature

Building a Global Soil Biodiversity Observatory: Bridging Science and Policy for a Sustainable Future

July 15, 2025
Quality of scientific papers questioned as academics ‘overwhelmed’ by the millions published – The Guardian

Are Scientific Papers Losing Quality as Academics Struggle to Keep Up with Millions Published?

July 15, 2025
Lower your risk of early death by some 40% with this lifestyle change – CNN

Lower your risk of early death by some 40% with this lifestyle change – CNN

July 15, 2025
Palmer leads Chelsea to incredible, improbable Club World Cup romp over PSG – ESPN

Palmer leads Chelsea to incredible, improbable Club World Cup romp over PSG – ESPN

July 15, 2025
Feds Collins: solid economy gives Fed time to decide its next interest rate move – Forexlive | Forex News, Technical Analysis & Trading Tools

Feds Collins: solid economy gives Fed time to decide its next interest rate move – Forexlive | Forex News, Technical Analysis & Trading Tools

July 15, 2025
Black River Entertainment Adds Traci Hite As Director Of Promotion, Southeast – MusicRow.com

Black River Entertainment Welcomes Traci Hite as New Director of Southeast Promotion

July 15, 2025
Stormont Vail Health dermatology specialist talks sun safety at walk with an APP – WIBW

Top Dermatology Tips for Staying Safe in the Sun During Your Next Community Walk

July 15, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (722)
  • Economy (745)
  • Entertainment (21,632)
  • General (15,915)
  • Health (9,783)
  • Lifestyle (753)
  • News (22,149)
  • People (747)
  • Politics (756)
  • Science (15,964)
  • Sports (21,244)
  • Technology (15,729)
  • World (729)

Recent News

Are Robust Financials Driving The Recent Rally In COTS Technology Co., Ltd.’s (KOSDAQ:448710) Stock? – simplywall.st

Is Strong Financial Performance Driving the Recent Surge in COTS Technology Co., Ltd. Stock?

July 16, 2025
Planned LaFollette sports complex to boost youth sports, local economy – WATE 6 On Your Side

Planned LaFollette sports complex to boost youth sports, local economy – WATE 6 On Your Side

July 16, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version