ChainCatcher news, according to Cointelegraph, former SafeMoon CEO John Karony stated on social media on the first day of the court hearing in New York that he "did not commit fraud," insisting on his innocence and accusing platform founder Kyle Nagy of being the mastermind behind the fund misappropriation incident. Nagy has fled to Russia after being charged. Karony faces three charges including securities fraud and money laundering, with the case expected to be heard until May 26. He is currently out on bail set at $3 million.Previous news, the U.S. Department of Justice will continue to advance the fraud lawsuit against the former CEO of SafeMoon.