- Joseph Nocella named interim U.S. Attorney for Eastern District of New York as jury selection begins in the safemoon CEO trial.
- Braden John Karony, former SafeMoon CEO, faces charges involving wire fraud, securities fraud, and money laundering conspiracy.
- The trial start follows recent changes in district leadership and ongoing legal action against crypto industry figures.
Joseph Nocella has been appointed as interim U.S. Attorney for the Eastern District of New York on May 5, according to an official notice from the U.S. Attorney’s Office. His appointment coincided with the start of jury selection in the criminal case against Braden John Karony, the ex-CEO of cryptocurrency firm SafeMoon.
The appointment comes as Nocella will serve up to 120 days or until a Senate-confirmed nominee takes over. According to the announcement, his selection was made just as the high-profile trial of SafeMoon’s former leader begins, where Karony is accused of conspiracy to commit securities fraud, wire fraud, and money laundering. Nocella stated that he aims to help prosecute a range of offenders, including narcotics traffickers, gang members, terrorists, and human traffickers.
In February, Karony requested a delay in his trial, citing “significant changes” to U.S. securities law proposed by President Donald Trump, which could impact his defense. However, the court has moved forward, as confirmed in a May 5 filing where Karony consented to jury selection overseen by U.S. Magistrate Judge James Cho. The trial is expected to start May 6 under District Judge Eric Komitee.
The Eastern District of New York has previously overseen various crypto-related cases, including those brought by the Securities and Exchange Commission, such as the complaint against Hex founder Richard Heart. Neighboring districts remain active in the crypto legal landscape, with the Southern District of New York handling the sentencing of former Celsius CEO Alex Mashinsky on May 8.
In November 2023, Karony and former SafeMoon leaders Kyle Nagy and Thomas Smith were charged with diverting and misappropriating millions of dollars worth of SafeMoon’s SFM tokens between 2021 and 2022. Karony maintains his plea of not guilty and has been released on a $3 million bond since February 2024.
For further information, the U.S. Attorney’s Office announcement can be found here.
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