The US Department of Justice announced the arrest of the leaders of the DeFi SafeMoon project as part of a cryptoasset fraud case.

SafeMoon founder Kyle Nagy, CEO Braden Karony and CTO Thomas Smith were indicted Wednesday in Brooklyn on charges of conspiracy to commit securities fraud, wire fraud, funds and money laundering.

The US Department of Justice said the agency has arrested and detained SafeMoon’s CEO and CTO. The founder of SafeMoon has been put on the federal wanted list.

According to court documents, SafeMoon’s top managers withdrew more than $200 million from the project and misappropriated investor funds. According to investigators, the defendants spent the stolen assets on McLaren and Porsche sports cars, expensive travel and luxury real estate.

Last February, SafeMoon investors filed a class action lawsuit against several popular media personalities, accusing them of false advertising and purposeful asset pumping.