SafeMoon CEO Out On Bail, But Could Have New Troubles Coming His Way

February 13, 2024 7:56 pm Comments

SafeMoon CEO John Karony is out on bail but is now facing a new, potential legal setback.

According to sources, Karony may lose his legal representation as a consequence of paying such a high bond amount—it seems that he has spent the lion’s share of his money on securing pre-trial release.

Karony is currently being tried on charges of securities fraud, conspiracy to commit wire fraud, and money laundering.

The crypto community remains divided on the innocence of John Karony, with some saying that he deserves everything he gets, while others remain sympathetic to the SafeMoon co-founder.

Whether or not Karony is found guilty of the charges remains to be seen; for now, here’s what we currently know:

Bitcoinist reports:

In their most recent filing, the lawyers highlighted that Karony had gotten another counsel through the Criminal Justice Act.

Judge Eric Komitee had, in his response to Petrillo Klein & Boxer’s initial motion, mentioned that non-payment of legal fees wasn’t a sufficient basis to permit an attorney’s withdrawal from representation.

Below is the full letter issued by the office of the United States Attorney in the Eastern District of New York in response to Karony’s bail request that was approved by a U.S. judge.

Coin Telegraph added:

Karony’s formerly Central Intelligence Agency-employed parents reportedly swayed Merkl to release their son. The pair said they supported Karony despite his mother, Jennifer Karony, saying she reported him to the Federal Bureau of Investigation and that they had fallen out due to a legal fight over a business dispute.

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