The SEC has fined crypto company SafeMoon for fraud and selling unregistered securities. The agency also announced that it is charging the company's management team. Including founder Kyle Nagy and CEO John Karony.

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A press release issued today announced allegations regarding the company's preparations for the matter. The SEC also accused the company of committing “a large-scale fraud scheme through the sale of SafeMoon tokens, which are considered unregistered crypto securities.” “Embezzlement of investment funds for personal use” #SFM #CryptoNews🔒📰🚫