Former SafeMoon CEO Braden John Karony was found guilty of conspiracy to commit securities fraud, wire fraud, and money laundering.
Prosecutors alleged that Karony and his associates deceived investors by falsely claiming SafeMoon's liquidity pool was locked and untouchable.
Karony used investor funds to purchase luxury vehicles and multimillion-dollar real estate, while maintaining liquidity funds could be accessed only in emergencies.
Karony's conviction includes forfeiture of at least $2 million worth of assets and he faces a maximum of 45 years in prison.