Centra Tech co-founder has been sentenced to eight years for conducting an illegal initial coin offering (ICO) that fleeced investors for $25 million.
The cryptocurrency firm had falsely claimed to have an impressive executive team, as well as 38 state money transmitter licenses.
According to court documents, U.S. federal prosecutors are asking that one of Centra Tech’s co-founders, Robert Farkas, be sentenced to prison instead of his request for home confinement and community service.
Centra Tech one of the most storied scams of the the 2017 ICO bubble. Its founders have fallen like dominoes since.
A co-founder of the celebrity-backed Centra Tech crypto scam has pleaded guilty to his role in the $25 million fraudulent ICO.
Floyd Mayweather, DJ Khaled and two employees of the Centra Tech ICO project have been dismissed from an investor lawsuit by a federal judge.
A Florida district court has published an analysis explaining how Centra Tech's CTR token is a security.
The U.S. Attorney for the Southern District of New York has announced that the co-founders of a Floyd Mayweather-backed ICO have been indicted.
The U.S. Securities and Exchange Commission has halted the Floyd Mayweather-supported Centra Tech initial coin offering.