SafeMoon Founders Arrested for Alleged $200 Million Embezzlement
The SEC has brought charges against the company’s founders, including its CEO and CTO, for orchestrating an extensive fraudulent scheme involving the unregistered sale of a crypto security.
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The SEC has brought charges against the company’s founders, including its CEO and CTO, for orchestrating an extensive fraudulent scheme involving the unregistered sale of a crypto security.
Investors were given assurances by the founders that their funds (that provides liquidity) were securely locked and inaccessible to anyone.
However, it is alleged that significant portions of the liquidity pool remained unlocked, with millions of dollars used for the purchase of McLaren cars, extravagant travel, luxury residences, and other expenses.
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