Centra Tech – DIGIT INFO

US Court Sentences Another Centra Tech Co-Founder to 8 Years in Jail

DIGIT — Mon, 08 Mar 2021 10:32:49 +0000

Sohrab Sharma, a co-founder with the now-defunct Florida cryptocurrency firm, Centra Tech, has been sentenced to eight years in prison after he pleaded guilty to charges of duping investors via a fraudulent initial coin offering (ICO). Additionally, the court has ordered Sharma to forfeit $36,088,960. Material Misrepresentations Prior to Sharma’s sentencing, the U.S. Department of […]

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Mastermind of $25 Million Crypto Debit Card Scheme Sentenced to Prison

DIGIT — Fri, 18 Dec 2020 11:19:58 +0000

The mastermind behind a $25 million cryptocurrency debit card scheme has been sentenced to one year and one day in prison, in addition to three years of supervised release. The authorities have also seized his cryptocurrency. $25 Million Crypto Credit Card Scheme The U.S. Department of Justice (DOJ) announced Tuesday that Robert Joseph Farkas, also […]

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Prosecutors seek harsh sentence for fraudster behind celeb-spruiked ICO

DIGIT — Wed, 04 Nov 2020 04:50:36 +0000

The U.S. government is seeking harsh sentencing for the founder of the company behind a fraudulent, celebrity-promoted initial coin offering from 2017.

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Crypto Founder Sentenced to Seven Years in Prison for $25 Million Scam

DIGIT — Wed, 17 Jun 2020 08:44:00 +0000

A federal court in Manhattan sentenced the founder of a $25 million ICO scam to 87 months and a fine of up to $250,000.

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Founder of Floyd Mayweather-Promoted ICO to Plead Guilty to Fraud

DIGIT — Thu, 11 Jun 2020 04:36:00 +0000

One of Centra Tech’s founders is entering into plea negotiations concerning the company’s fraudulent 2017 initial coin offering.

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Celebrity ICO Endorsers Face Legal Blowback Over Alleged Fraud

DIGIT — Sun, 21 Oct 2018 14:10:25 +0000

Boxing superstar Floyd Mayweather and rap producer DJ Khaled face a legal battle for serving as celebrity endorsers to an initial coin offering (ICO) accused of fraud. The founders of the allegedly fraudulent ICO were arrested by American criminal authorities back in April. Also Read: The Daily: Goldman Sachs Invests in Wallet, Institutional Traders Borrow […]

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ICO Round-Up: Social Media Influencers Bypass Ad Ban, Centra Tokens Deemed Securities

DIGIT — Sat, 30 Jun 2018 04:04:14 +0000

Three stories dominate this week’s initial coin offering (ICO) round up: It appears many ICO projects are reaching out to social media influencers in an effort to thwart advertising bans across leading platforms. A study published by the China Banking Regulatory Commission (CBRC) suggested that the country develop a licenced-based regulatory apparatus that permits cryptocurrency […]

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US Court Indicts Founders of Crypto Company for Fraudulent Scheme

DIGIT — Wed, 16 May 2018 01:19:00 +0000

A US federal court has indicted three founders of a company purported to offer cryptocurrency-related financial products and have raised $25 million in an initial coin offering. In addition to claiming to have licenses in 38 states, the company also claimed partnerships with Bancorp, Visa, and Mastercard to issue its own cards. Also read: Yahoo! Japan […]

The post US Court Indicts Founders of Crypto Company for Fraudulent Scheme appeared first on Bitcoin News.

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