Founders of Collapsed Cryptocurrency SafeMoon Accused of Defrauding Investors
- Founders of SafeMoon cryptocurrency accused by DOJ and SEC of defrauding investors
- Defendants allegedly used investors' money to buy luxury cars and real estate
- SafeMoon was promoted by Dave Portnoy, who invested $40k when it was booming in 2021
- Since then, SafeMoon has lost over 99% of its value
- Portnoy acknowledged SafeMoon was likely a "Ponzi scheme" after its collapse