Former SafeMoon CEO Denies Allegations, Blames Founder on First Day of Trial

Former SafeMoon CEO John Karony stated on the first day of his trial in New York that he "did not commit fraud," firmly asserting his innocence, and accused the platform founder Kyle Nagy of being the mastermind behind the fund misappropriation incident. Nagy has fled to Russia after being charged. Karony faces three charges including securities fraud and money laundering. The case is expected to be tried until May 26, and he is currently out on bail set at 3 million USD. (Cointelegraph)