{"id":6295,"date":"2018-05-22T20:32:22","date_gmt":"2018-05-22T20:32:22","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6295"},"modified":"2022-05-19T12:08:01","modified_gmt":"2022-05-19T17:08:01","slug":"cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/","title":{"rendered":"Cryptocurrency Fraud Allegations Lead to Criminal Allegations Alleging $32M ICO Scheme"},"content":{"rendered":"<p>\t\t\t\tIn New York, the founders of Centra Tech are now facing <a href=\"https:\/\/www.investorlawyers.com\/\">securities fraud,<\/a> wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).<\/p>\n<p>Prosecutors claim that the men misled investors into thinking that the Centra tokens they had invested in had partnership deals with Visa, Bancorp, and Mastercard. These agreements supposedly involved the issuance of debit cards that would allow them to spend the cryptocurrency at any business that accepted Mastercard or Visa. Farkas, Sharma, and Trapani are accused of lying about a fake CEO and licenses for money transmitters. They also are accused of making misrepresentations and omissions.<\/p>\n<p><em>Last month, the Federal Bureau of Investigation arrested the company co-founders and confiscated 91,000 Ether units in digital money valued at $60M.\u00a0<\/em><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/\"  title=\"Continue Reading Cryptocurrency Fraud Allegations Lead to Criminal Allegations Alleging $32M ICO Scheme\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO). Prosecutors claim that the men misled investors into thinking that [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4098,4050],"tags":[3085,2946,2956],"class_list":["post-6295","post","type-post","status-publish","format-standard","hentry","category-centra-tech","category-cryptocurrencies","tag-criminal-allegations","tag-cryptocurrency","tag-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Centra Tech Cryptocurrency Fraud Allegations Lead to Criminal Allegations | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Centra Tech Cryptocurrency Fraud Allegations Lead to Criminal Allegations | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Centra Tech Cryptocurrency Fraud Allegations Lead to Criminal Allegations | SSEK Law Firm Blog","description":"In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/","twitter_card":"summary_large_image","twitter_title":"Centra Tech Cryptocurrency Fraud Allegations Lead to Criminal Allegations | SSEK Law Firm Blog","twitter_description":"In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Cryptocurrency Fraud Allegations Lead to Criminal Allegations Alleging $32M ICO Scheme","datePublished":"2018-05-22T20:32:22+00:00","dateModified":"2022-05-19T17:08:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/"},"wordCount":457,"keywords":["Criminal Allegations","Cryptocurrency","Fraud"],"articleSection":["Centra Tech","Cryptocurrencies"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/","url":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/","name":"Centra Tech Cryptocurrency Fraud Allegations Lead to Criminal Allegations | SSEK Law Firm Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-05-22T20:32:22+00:00","dateModified":"2022-05-19T17:08:01+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"In New York, the founders of Centra Tech are now facing securities fraud, wire fraud, and conspiracy charges related to an alleged cryptocurrency fraud. Robert Farkas, Sohrab Sharma, and Raymond Trapani are accused of fraudulently raising $32M from investors during an initial coin offering (ICO).","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/cryptocurrency-fraud-allegations-lead-to-criminal-allegations-alleging-32m-ico-scheme\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Cryptocurrency Fraud Allegations Lead to Criminal Allegations Alleging $32M ICO Scheme"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1Dx","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=6295"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6295\/revisions"}],"predecessor-version":[{"id":28156,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6295\/revisions\/28156"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=6295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=6295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=6295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}