Braden John Caroni, ex-CEO of SafeMoon, has been sentenced to eight years in prison for fraud and money laundering, alongside hefty financial penalties.
Braden John Caroni, the former CEO of SafeMoon, has been sentenced to eight years in prison by a court in the Eastern District of New York.
Alongside his prison sentence, the 29-year-old entrepreneur is ordered to pay $7.5 million and forfeit two residential properties.
In May 2025, Caroni was convicted of conspiracy to commit securities fraud and money laundering, following an investigation by the FBI that revealed he misappropriated over $9 million in user funds for personal luxuries.
SafeMoon's business model involved a 10% fee on each transaction, with half intended for a liquidity pool to stabilize the project. However, Caroni and his associates redirected these funds for their own benefit.
Using investor money, Caroni bought a $2.2 million mansion in Utah, as well as luxury vehicles including an Audi R8, a Tesla, and a custom-built Ford F-550.
In 2023, the U.S. Department of Justice and the Securities and Exchange Commission charged SafeMoon co-founder Kyle Nagy, who is currently evading authorities. Meanwhile, the project's Chief Technology Officer, Thomas Smith, pleaded guilty to two counts of fraud in February 2025.
October 28, 2026
October 26, 2026
October 28, 2026
October 27, 2026