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Court Halts SafeMoon’s CEO Bail After Prosecutors Allege a “Danger to the Community”
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United States federal prosecutors have halted the bail of SafeMoon’s CEO Braden John Karony after they challenged the previous order citing a danger to the community and a potential flight risk.
Court filings show New York District Judge LaShann DeArcy Hall has paused Karony’s bail previously ordered by a Utah Magistrates the previous day. Judge Daphne Oberg, had initially given an order setting the bail sum at $500,000, a fee vehemently opposed by prosecutors.
The effect of the initial bail order would have seen the embattled CEO return to his Miami residence and barred him from several crypto-related activities including trading, accessing wallets, and promoting tokens.
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