A judge in New York has postponed the bail of John Karony, the CEO of crypto platform SafeMoon, while assessing the level of flight risk. The bail had previously been granted by a Utah judge but was stayed at the request of prosecutors. The prosecutors argued that the Utah judge did not consider Karony’s finances and his potential ability to flee. They claimed that Karony had undisclosed assets, including a Utah home being sold for $1.5 million, expensive items, and money in an unnamed company. The prosecutors also highlighted Karony’s strong ties outside of the US and his history of traveling abroad. Karony and other SafeMoon executives have been charged with securities fraud, conspiracy to commit wire fraud, and money laundering conspiracy. The US Securities and Exchange Commission has suggested that the executives misappropriated $200 million from their project. The bail order has been paused, but Karony is not required to remain in custody or be transferred to the Eastern District of New York.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	John Karony
Companies	SafeMoon, U.S. Securities and Exchange Commission, U.S. Attorney’s Office for the Eastern District of New York
Currencies	US Dollar, SafeMoon
Securities	None