According to Cointelegraph, SafeMoon Chief Technology Officer Thomas Smith pleaded guilty to a cryptocurrency fraud case in Brooklyn federal court. Smith pleaded guilty to two charges of securities fraud and telecommunications fraud, with the maximum sentence of 25 years and 20 years respectively. The U.S. Department of Justice and the Securities and Exchange Commission accused Smith of participating in fraud with SafeMoon CEO Braden John Karony and founder Kyle Nagy. Prosecutors said the three falsely claimed to investors that the liquidity of SafeMoon (SFM) tokens was locked and inaccessible, and that they were able to access and misappropriate more than $200 million in funds for personal purposes such as luxury cars and real estate.