A bankruptcy trustee sued former executives of crypto firm SafeMoon and other defendants, including social media influencers Jake Paul and Ben Phillips, seeking to recover at least $100 million in alleged damages and fraudulent transfers.
The executives used shell companies to steal company money and fund lavish lifestyles, spending it on high-end real estate, vehicles, and luxury travel and goods, according to a complaint filed Dec. 12 by SafeMoon trustee Ellen Ostrow in the US Bankruptcy Court for the District of Utah.
The suit alleges misappropriation and embezzlement by founder Kyle Nagy, CEO Braden John Karony, and Chief Technology Officer ...
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