CENTRA TECH'S CO - FOUNDER FACES TEN YEARS IN PRISON AFTER PLEADING GUİLTY TO TWO COUNTS OF FRAUD

Robert Farkas, co-founder of Centra Tech, a $ 32 million crypto fraud, faces a decade in prison after pleading guilty to two counts of fraud.

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Robert Farkas, co-founder of Centra Tech, a $ 32 million crypto fraud, faces a decade in prison after pleading guilty to two counts of fraud.


Centra Tech's co-founder Robert Farkas is partnering with Sohrab Sharma and Raymond Trapani, both of whom are defendants in the case. The crypto fraud has raised over $ 32 million in a nine-month ICO based on lies, misrepresentations and celebrity endorsements to lure investors.

Floyd Mayweather and DJ Khaled confirmed the crypto fraud to their social media followers, for which they paid a penalty. The defendants pleaded guilty to two counts of fraud activity.

Centra Tech claimed to be developing financial products for the digital money economy.

They claimed to have partnered with the company's founders Bancorp, VISA and Mastercard to lure investors. This would make it possible for Centra Tech to issue a VISA or Mastercard debit card, the 'Centra Card', which would make it possible for digital currencies to be easily spent.

The defendants also lied about the company's leadership to investors, according to a Justice Department statement.

The three founders led investors to believe Centra Tech would be led by CEO 'Michael Edwards'.


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