SafeMoon CTO admits involvement in $200 million cryptocurrency fraud case

SafeMoon's Chief Technology Officer Thomas Smith has pleaded guilty to charges related to a $200 million cryptocurrency fraud case.

Documents submitted to the Brooklyn federal court on February 20 show that SafeMoon's CEO Thomas Smith withdrew his previous not guilty plea before District Judge Cheryl Pollak and pleaded guilty to conspiracy to commit securities fraud and conspiracy to commit wire fraud.

Judge Pollak suggested that U.S. District Judge Eric Komitee, who is overseeing Smith's case, accept the new plea.

Conspiracy to commit wire fraud carries a maximum sentence of 20 years in prison, while conspiracy to commit securities fraud carries a maximum sentence of 25 years in prison.