The wheels seem to be falling off for SafeMoon. After facing charges of multi-million dollar crypto fraud last November, CEO John Karony took to social media to proclaim his innocence.

"Innocent Until Proven Guilty," But the Evidence Looks Grim

Karony's X (formerly Twitter) post painted a picture of defiance. "I'm innocent," he declared, vowing to see the case through. However, the accusations against him and his colleagues are serious.

Karony, alongside former CTO Thomas Smith, stand accused of conspiracy to commit securities fraud, money laundering, and wire fraud. Prosecutors allege they swindled investors out of millions through a twisted scheme.

Locked Away... Except When It Wasn't

SafeMoon promised investors "locked" liquidity pools, a haven for their assets. However, this turned out to be a cruel illusion. Prosecutors claim Karony, Smith, and a third co-conspirator, founder Kyle Nagy (who is currently missing in action), had full access to these pools.

This access wasn't used to safeguard funds; instead, it became a personal ATM. Millions of dollars' worth of tokens allegedly vanished, funding a lavish lifestyle of luxury cars and real estate for the SafeMoon trio.

Justice Served Cold?

Karony may be out on bail, but his legal woes are far from over. His initial attorney team bolted due to a lack of funds, leaving him with a public defender.

With the weight of a criminal investigation and a missing co-founder, SafeMoon's future looks bleak. Karony may be pleading innocence online, but the evidence suggests a different story. Only time will tell if he can outrun the long arm of the law.