EXCLUSIVE: SafeMoon liquidity spending 'good business,' says defense
Defense attorneys in the criminal fraud trial of John Karony neared the end of their case on Tuesday. The former SafeMoon CEO is accused of misrepresenting SafeMoon to investors, including by secretly withdrawing funds from SafeMoon liquidity pools and using them for personal purchases, including cars and real estate. The day ended with the news that Karony may testify in his own defense starting later today. That decision will be made tonight and may be shared publicly on the case docket. His defense strategy remains focused on characterizing Karony’s use of funds from the SafeMoon liquidity pool as being in line with public statements. The day’s most colorful witness, Nicholas Ranalli, a factory worker from Canada, testified to his awareness that the SafeMoon liquidity pool was not entirely “locked,” and that he felt its use for development and operating expenses was acceptable to him as an investor. “I figured that would be obvious,” Ranalli said of the spendin...