SafeMoon Execs Charged with Fraud for Allegedly Diverting $200M in Crypto to Buy Luxury Cars and Homes
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Execs of meme coin SafeMoon charged with fraud for spending customers' money on luxury cars and homes.
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SafeMoon's value grew 19,000% in 2021 crypto boom, reaching $8B market cap.
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Execs allegedly diverted $200M from "locked" liquidity pool to spend on McClarens, Porsches, vacations.
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Former CEO Smith texted "BRO WE DID IT" about using customer funds for cars.
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Arrests signal increased crackdown on fraud in crypto space by US officials.