Former SafeMoon CEO insists innocence, blames founder

On May 8, according to Cointelegraph, former SafeMoon CEO John Karony posted on social media on the first day of his trial in New York that he "did not commit fraud", maintained his innocence, and accused platform founder Kyle Nagy of being the mastermind of the misappropriation of funds. Nagy has fled to Russia after being charged. Karony is charged with securities fraud, money laundering and other three counts. The case is expected to be heard until May 26. He is currently on bail of $3 million.