SafeMoon [...] claimed “[r]isks in regard to rug-pulls” are mitigated because “every member of SafeMoon would be subject to litigation and likely a swift prison sentence

they are COOKED lmfao

Nagy represented that each SafeMoon Token transaction would be subject to a 10% “tax”—5% would be returned to SafeMoon Token holders as a quasi-dividend, and 5% would be deposited and retained in the SafeMoon LP. [...] Critically, Nagy represented in marketing materials, his whitepaper, and website that these retained assets would be “locked” and inaccessible for at least four years.

as Defendants well knew, the assets in the SafeMoon LP were not locked because the LP Tokens allowed the Defendants to withdraw retained assets from the SafeMoon LP at will—which, in fact, is what the Defendants repeatedly did.

as alleged, large portions of the liquidity pool were never locked, and the Defendants misappropriated millions of dollars to purchase McClaren cars, extravagant travel, luxury homes, and other things.

On or about April 21, 2021, after it became public that the Defendants had the unfettered ability to remove assets from the SafeMoon LP, the SafeMoon Token price plummeted nearly 50%