SafeMoon executive team charged with multiple fraud counts, arrests made

The United States Securities and Exchange Commission (SEC) announced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities sales in connection with its SafeMoon token. The Justice Department unsealed charges against the men at the same time. 

According to SEC allegations, SafeMoon creator Kyle Nagy, CEO John Karony and chief technology officer Thomas Smith withdrew assets worth $200 million from the project and misappropriated investor…