Robert Farkas, who is the co-founder of cryptocurrency firm Centra Tech comes forward with the truth. He confesses that along with Sohrab Sharma and Raymond Trapan, they used material misrepresentations and omissions to solicit investors to purchase securities in the form or digital coins for their company. This heist that they led got them more than $25 Million with the victims even realizing.
They claimed that the company was founded by “Michael Edwards” who is the Harvard graduate and the CEO of the company. They told the public that they will be launching centra cards with partnerships with Visa and Matercards and can be used anywhere in the world, not only was this not true but also there were no cards that were introduced.
This company was promoted by trusted celebrities like Floyd Mayweather and even DJ Khaled, who were also charged penalty. The people who carried out the fraud are being prosecuted with an enormous amount of fine.