Tagged With centra tech

The past year has seen its fair share of largely indistinguishable cryptocurrency scams. Think of a noun. Coin and its founders were probably charged with fraud in the past 16 months. Most of these boneheaded grifts bleed together into one long, libertarian migraine — but only one of them can claim to have cost DJ Khaled and Floyd Mayweather Jr. more than $US750,000 ($1,024,646) combined.

Sohrab "Sam" Sharma and Robert Farkas were the operators of an initial coin offering that - according to a Securities and Exchange Commission complaint filed today in the District Court of Southern New York - fleeced investors out of more than $42 million though a business called Centra Tech Inc. What led to Farkas's arrest while trying to leave the country is almost too boneheaded to believe.