applancer Advertise

Founders of Centra Tech Prosecuted for Fraudulent Activity


May 16, 2018 Posted /  3368 Views


Founders of Centra Tech Prosecuted for Fraudulent Activity

U.S. Attorney for the Southern District of New York declared Digital currency organisation Centra Tech's three co-founders have been prosecuted by a grand jury.


Sohrab Sharma, Raymond Trapani and Robert Farkas have all been charged with intending to deceive investors through their organisation's sale of tokens. United States Attorney, Robert Khuzami additionally reported that investors had reclaimed more than $60 million from the three co-founders.

As per a statement, each one of the three is being accused of treason, a commission of securities and wire scam.

According to the release, Centra Tech purportedly presented digital currency related financial products and its originators professedly made plans to urge clients to contribute millions of dollars of digital funds for unregistered securities.

Nevertheless, the co-founders purportedly withheld vital data or deceived investors, including claims about its connections with payments organisations.

The organisation's token sale was promoted by heavyweight boxer Floyd Mayweather, said to have an association with Visa and MasterCard to generate financial products. The SEC stated that the association never existed.

As announced before, the charges were first uncovered at the beginning of this year when the U.S. Securities and Exchange Commission filed accused Sharma and Farkas of fraud. The Department of Justice later delivered criminal allegations against the co-founders of Centra Tech.

Currently, the co-founders are in custody and further action is pending by the courts.


Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

For more details on how you can submit an opinion or any news , view our Editorial Policy or email [email protected].


Tags: Centra Tech Centra ICO ICO Fraud Sohrab Sharma Raymond Trapani Robert Farkas

Hottest Blockchain Newsletter

For updates and exclusive offers, enter your e-mail below.