Department of Justice confirms it will move forward with fraud lawsuit against SafeMoon's former CEO

On April 21, according to law360.com, citing documents filed by the US Department of Justice (DOJ) on Friday, the Trump-era US Department of Justice has pushed to scale back its enforcement of cryptocurrencies, but this has not stopped federal prosecutors from prosecuting Braden Karony, the former CEO of SafeMoon. Karony faces fraud charges related to the collapse of the token. His upcoming trial in May will be a key litmus test for whether the new approach of the Department of Justice will protect executives from past allegations of alleged misconduct. On April 18, the US Attorney for the Eastern District of New York confirmed that the prosecution will continue. Karony, charged with conspiracy to commit securities fraud, wire fraud and money laundering, has pleaded not guilty and has been released on $3 million bail since February.
Previously, on April 10, SafeMoon CEO again applied for dismissal of the lawsuit on the grounds that the US Department of Justice had dissolved the cryptocurrency department.