[vc_row][vc_column][vc_paragraph text=”The Centra Tech ICO court case amounting to $25 million has lead to sentencing of one of the project founders who pleaded guilty. Other founders are still awaiting trials.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Another scam with celebrities” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Robert Joseph Farkas is one of the co-founders of Centra Tech crypto startup in Miami. The project has managed to attract over $25 million through an ICO due to involving celebrities.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Just a week ago Farkas plead guilty in a scam involving securities. One of the key factors that helped attract immense amount of money was using famous people that would promote projects by approving them publicly. “][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”That’s why crypto startup from Miami made a deal with the undefeated fighter Floyd Mayweather and the well-known music artist DJ Khaled for promoting the ICO.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The intended purpose of the project was to develop a product called Centra Card that would be able to use VISA and Mastercard terminals for making crypto payments.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”According to FBI, the whole project was a massive scam that resulted in creating a nonexistent team of staff. It was also quickly established that the company had no relations neither with VISA nor with Mastercard, and had no valid license in most US states.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In April, 2018, the Security Exchange Commission (SEC) filed a civil claim against Centra Tech founders stating that their ICO turned out to be a fraud.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The US Attorney’s office for the Southern District of New York field similar charges.”][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”One of the founders pleads guilty” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”2865″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”On 17th June, 2020 Robert Farkas, one of Centra Tech co-founders, pleaded guilty in this scam that was illegally attracting funds, as a consequence, was declared to be unauthorized sale of securities.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”33-year old Farkas pleaded guilty to two charges, and each of them are punishable by up to 5 years in prison.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The date of trial wasn’t set but, as reported, Farkas took a plea deal due to confession of deal. He may expect from 70 to 87 months, and a fee amounting to $250 000.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In an official statement the US attorney Craig Stewart said, “Farkas and his accomplices deceived ICO investors making them contribute funds in a digital currency worth millions of dollars and providing false information about the project including its nonexistent link to financial technologies and legal entities.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”No matter whether such scheme is related to traditional IPO with stocks or new ICOs, attracting capital associated with cryptocurrencies by means of lies and deceit, it is a crime”.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”Accomplices of Farkas, Sohrab Sharma and Raymond Trapani, will stand trial at the end of the year in November, while Floyd Mayweather and Haled escaped with large fines.”][/vc_column][/vc_row]
