Founders of Centra ICO Indicted for Fraud

They were Endorsed by Floyd Mayweather

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Cryptocurrency organization Centra Tech founders who are three individuals have been indicted by the grand jury. This is according to the announcement made on Monday by the US attorney for New York’s Southern District.

Robert Farkas, Sohrab Sharma, and Raymond Trapani have been accused of their plans to defraud the investors through the organization’s token sale. Robert Khuzami the US Attorney made announcements that the authorities were involved in recovering more than $60 million worth of funds from these founders.

The three founders, therefore, have been charged with wire fraud, conspiracy and the commission of securities. This is in accordance with the release.

According to the release, Centra was reported to have offered crypto related financial products and the founders were involved in the creation of “a scheme to induce victims to invest millions of dollars’ worth of digital funds for the purpose of unregistered securities.”

Additionally, the three are said to have been involved in withholding important information and misleading the investors. Additionally, the organization is tied to various payment companies.

The organization’s sale of tokens was endorsed by Floyd Mayweather who is a heavyweight boxer and is said to have been involved in links with MasterCard and Visa in the creation of financial products. According to the SEC, the partnerships were not there from before.

The charges were first heard this year when the SEC based in the US was involved in filing charges against Farkas and Sharma with fraud. This is according to the reports made at the time. Later the Department of Justice then brought up criminal charges against the three founders of the organization.

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